M&A

Wesfarmers buys into Ora Banda's lithium rights

GOLD producer Ora Banda Mining is selling a big chunk of its non-gold rights along much of its Davyhurst project to Western Australian conglomerate Wesfarmers for A$26 million cash, a 2% royalty, and a free-carry on exploration spending.

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Wesfarmers will pay $22.1 million cash up front, with $3.9 million expected by May 2024 once a formal agreement is signed. Wesfarmers, which is a partner in Covalent Lithium and the Mount Holland mine...

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