Lingbao to acquire 50% stake in St Barbara Mining

China's Lingbao Gold Group has entered into agreements to acquire a 50% stake in Australia-based St Barbara’s fully owned subsidiary, St Barbara Mining (SMBL), for A$370m ($245.57m) in cash. Upon completion, SMBL will hold an 80% interest in the Simberi gold project in Papua New Guinea (PNG), and an unincorporated joint venture (JV) over the Simberi gold project, known as the Simberi JV, will be established. In a parallel development, St Barbara has signed agreements with Kumul Mineral, under which Kumul ...