Allens has advised St Barbara on the sale and joint venture of a 20% interest in its Simberi Gold Project to Kumul, the State Nominee for PNG's share of minerals projects within PNG, for A$100 million.
The agreements will support the PNG Government's objective of achieving greater PNG investment in, and benefits sharing from, future resource development.
‘We are delighted to have supported St Barbara on this landmark transaction, which strengthens its strategic position in PNG and paves the way for the next phase of growth at Simberi,' said lead partner Igor Bogdanich.
'This deal underscores the importance of collaborative partnerships in the resources sector, and is part of an ongoing wave of M&A activity in gold which we expect will continue into 2026.'
Allens has extensive experience advising on complex resources transactions and joint ventures across the Asia-Pacific region, having recently advised: Newmont Corporation on the sale of its Telfer mining operation and 70% interest in the Havieron Project to Greatland Gold; Rio Tinto on the $615 million sale of a 30% interest in the Winu Copper Gold Project to Sumitomo; and Endura Mining on its funding arrangements for the Snowy River Gold Project.
Allens legal team
M&A and Capital Markets
Igor Bogdanich (lead Partner), Alexander Ninkov (Managing Associate), Emma Morris (Senior Associate), Lennard Bremer (Associate)
Finance, Banking & Debt Capital
Ben Farnsworth (Partner), Tania Joppich (Senior Associate)
PNG regulatory
Sarah Kuman (Partner), Richard Kriedemann (Partner)