Make Kitco Your Homepage

Triple Flag acquires royalties near Gold Fields’ Salares Norte gold-silver project in Chile

Kitco News

Welcome to Kitco News' 2022 outlook series. The new year will be filled with uncertainty as the Federal Reserve looks to pivot and tighten its monetary policies. At the same time, the inflation threat continues to grow, which means real rates will remain in low to negative territory. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2022.

(Kitco News) - Triple Flag Precious Metals (TSX:TFPM) today announced the acquisition for US$4.9 million of three pre-existing 2% NSR royalties on each of the Aster 2, Aster 3, and Helada properties from a private third party that are proximal to Gold Fields’ Salares Norte project in Chile.

In a statement, the company said that these properties cover prospective exploration ground that Gold Fields has been exploring.

The Salares Norte high-sulphidation epithermal gold-silver project is currently under construction with anticipated first production in 2023.

Once operational, the open pit mine is forecast to have an average annual production of 450,000 gold equivalent ounces per year for the first seven years, decreasing to around 355,000 gold equivalent ounces for the following three years.

Triple Flag is a gold-focused streaming and royalty company. The company has 78 assets in the Americas and Australia, including 9 streams and 69 royalties.


Canada's mining, quarrying, oil and gas sectors up 1.5% in October - StatCan

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.