Mercuria to Fund Mount Morgan Gold Mine Restart
Mercuria has signed a prepayment and offtake agreement with Heritage Minerals to support the restart of operations at the Mount Morgan gold mine in Queensland, Australia.
Energy and commodity trading group Mercuria has entered into a prepayment and offtake agreement with Heritage Minerals, aimed at supporting the restart of operations at the Mount Morgan gold mine in Queensland, Australia. The agreement signals Mercuria's expansion into precious metals.
The deal involves a AUD 40 million prepayment from Mercuria to Heritage Minerals. This prepayment corresponds to an offtake agreement for the first 210,000 ounces of gold to be produced at Mount Morgan over a four-year period. Production is scheduled to commence in the fourth quarter of 2026.
Mercuria stated the agreement aligns with its strategy to grow its precious metals business and deepen its footprint in Australia. The company views such agreements as providing financial solutions for resource development and environmental rehabilitation.
Mercuria is one of the world's largest independent energy and commodity groups, operating in over 50 countries. The company has been increasing its investments in renewable energy and critical minerals in recent years.