The assets include Northern Star’s 51% stake in each of East Kundana’s production and exploration joint ventures, a 75% stake in a West Kundana farm-in joint venture, and the company’s Carbine gold project.
“The sale of these assets is consistent with our strategy to employ capital where we believe it will generate the greatest return,” Northern Star Managing Director Stuart Tonkin said in a statement.
Northern Star, which merged with Saracen Mineral earlier this year, will invest the proceeds from the sale to advance its pipeline of growth projects.
($1 = 1.3592 Australian dollars)
(By Sameer Manekar; Editing by Devika Syamnath)