Evolution Mining’s Northparkes Acquisition to Boost Metal Production

Australian miner Evolution Mining (ASX: EVN) is projected to see a significant rise in production across key metals following its acquisition of the Northparkes copper-gold mine. In December 2023, Evolution Mining acquired an 80% stake in the Northparkes mine in Australia. Northparkes is estimated to account for 6% of the miner’s total revenue in 2024, reaching 14% by 2035.

Once owned by Rio Tinto, Northparkes is expected to produce 155,000 troy ounces of silver, 20,000 troy ounces of gold, and 14,000 troy ounces of copper in 2024, according to Visible Alpha consensus estimates. In 2024, the mine is estimated to account for 22% of the total copper, 22% of the total silver, and 3% of the total gold produced by Evolution Mining. After the acquisition news in December, analysts have raised production estimates for Evolution Mining for silver, gold, and copper.