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Highlights
Sandfire Resources and Catalyst Metals enter agreement for Old Highway Gold Project transfer
Catalyst to assume responsibility for DeGrussa aerodrome, with continued Sandfire access
Transaction aligned with Sandfire’s long-term rehabilitation focus for DeGrussa site
In a development within the gold and base metals segment of the ASX 200, Sandfire Resources (ASX:SFR) has confirmed the execution of a binding sale and purchase agreement with Catalyst Metals (ASX:CYL) for the Old Highway Gold Project located in Western Australia. Sandfire Resources, part of the materials index, continues to adjust its asset portfolio following the transition of its DeGrussa Copper-Gold Mine to care and maintenance. Catalyst Metals, also within the materials space, is positioned as the acquiring party in this transaction.
The agreement contributes to ongoing adjustments across ASX 200 mining participants and includes provisions for collaboration on asset transfer processes.
Old Highway Project Sale Agreement Executed
The Old Highway Gold Project, previously drilled and assessed by Sandfire Resources during earlier exploration phases, will be transferred under agreed commercial terms. Catalyst Metals will provide an initial payment followed by the balance upon completion, in line with customary conditions precedent.
Both companies have confirmed that the legal and operational framework of the transaction includes a joint commitment to the procedural transfer of responsibility for the DeGrussa aerodrome, currently associated with the now-suspended DeGrussa site. Sandfire Resources will retain access to the aerodrome for its future requirements, ensuring continued alignment with its operational and rehabilitation strategies.
DeGrussa Legacy and Project Rehabilitation Support
Sandfire Resources has indicated that proceeds from the Old Highway sale will contribute to the financial requirements associated with the progressive rehabilitation of the DeGrussa Copper-Gold Mine. The DeGrussa site has transitioned into a long-term care and maintenance phase, with environmental rehabilitation planned over an extended period.
The company’s focus remains on executing this process in coordination with relevant authorities and community stakeholders. This includes ensuring compliance with all applicable guidelines while progressing its responsibilities across its broader project portfolio.
Collaborative Approach and Sector Coordination
The agreement outlines a collaborative approach between Sandfire and Catalyst to ensure a smooth transition of responsibilities linked to the Old Highway site. CEO-level commentary has acknowledged the completion of a structured sales process designed to facilitate orderly project transfer.
The project’s future development scope will now be directed by Catalyst Metals as part of its regional resource strategy. Sandfire Resources has reiterated its commitment to responsible asset management, particularly in relation to legacy sites such as DeGrussa.
Industry Movement and Resource Alignment
This transaction contributes to ongoing activity across the ASX 200’s mining and exploration category, reflecting a dynamic landscape of project alignment and strategic repositioning. Sandfire Resources and Catalyst Metals continue to refine their portfolios in accordance with long-term operational objectives and regulatory frameworks.
As the Old Highway Gold Project changes hands, sector participants monitor developments that shape the broader narrative of Australia's gold and copper exploration efforts, with market attention drawn to transitions occurring within the ASX 200 mining space.
