AngloGold Ashanti has significantly expanded its partnership with Kincora Copper, committing up to $100 million to explore Kincora’s Northern Junee-Narromine Belt (NJNB) Project in New South Wales. This second major joint venture builds on an initial $50 million deal from May 2024 and focuses on the Nyngan South, Nevertire South, and Mulla projects, adjacent to the original agreement’s sites. AngloGold can earn up to an 80% stake in these additional projects through phased investments and feasibility studies, while Kincora remains the operator, receiving a 10% management fee.
This expanded partnership brings Kincora’s total potential funding to over $110 million, enabling a self-funding exploration model. The two joint ventures now cover five projects across a substantial strike length, rivaling major porphyry belts. Initial drilling at the Nyngan Project is ongoing, with further programs planned across multiple sites into 2025. According to Kincora, AngloGold has already invested over $14 million in the NJNB, with drilling plans significantly expanded at Nevertire and Nevertire South.
