Strategic Minerals Signs Sales Deal for Leigh Creek Copper Mine in Australia

04:40 AM EDT, 09/03/2026 (MT Newswires) -- Strategic Minerals (SML.L) entered a definitive deal to sell its Leigh Creek copper mine in South Australia to South Pacific Mineral Investments, trading as Cuprum Metals, according to a Thursday release. The London-listed mineral exploration and production company expects to receive AU$750,000 in cash, up to AU$3 million in shares, a 2% net smelter royalty on the first 24,900 tonnes of copper output, and earn-out payments from the start of commercial production. The transaction is subject to the approval of the Australian Foreign Investment Review Board, among other conditions. Proceeds will be used to support the Redmoor tungsten-tin-copper project in southeast Cornwall.