05:37 AM EST, 11/04/2026 (MT Newswires) -- Strategic Minerals (SML.L) completed the sale of Leigh Creek Copper Mine Pty to South Pacific Minerals Investments, d/b/a Cuprum Metals, after receiving approval from Australia's Foreign Investment Review Board, according to a Wednesday release. The mineral exploration and production company signed a definitive agreement for the sale in September. The consideration includes AU$750,000 in cash, a 2% net smelter royalty on the first 24,900 tonnes of copper produced and a 20% earn-out on half-yearly operating cash flows from the start of commercial production. In addition, Strategic Minerals will receive shares of up to 19.9% in a new company Cuprum intends to list on a recognized stock exchange valued at up to AU$3 million. Strategic Minerals earmarked proceeds toward advancing its flagship Redmoor tungsten-copper-tin Project in southeast Cornwall, UK.

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