FINWIRES · TerminalLIVE
FINWIRES

Santana Minerals Unit Secures OIO Approval to Acquire Land for South Island Gold Project

By

-- Santana Minerals' (ASX:SMI, NZE:SMI) wholly owned subsidiary, Matakanui Land, has been approved by New Zealand's overseas investment office (OIO) to acquire land across Bendigo and Ardgour stations, clearing the way for the company's proposed gold mining project, according to a Thursday filing with the Australian and New Zealand bourses.

The approval includes 797 hectares at Bendigo station for mining infrastructure and pits, 92 hectares for a proposed Bendigo sanctuary, and 2,880 hectares at Ardgour station for processing facilities, tailings storage, offices, and ecological offset areas, per the filing.

The project is expected to attract more than NZ$500 million in investment over 13 to 14 years, generate about 350 full-time jobs, increase exports, and strengthen the local economy, the filing said.

The OIO consent key conditions include full settlement by December, securing resource consent by March 2035, and investing NZ$250 million in development within five years of receiving consent.

The company expects to meet these requirements, with a final decision under the fast-track approvals act due in October and initial gold production planned for early 2028, the filing added.

Related Articles

Asia

Market Chatter: Indonesia Finance Minister to Activate Bond Stabilization Fund to Defend Rupiah

Indonesia's Finance Minister Purbaya Yudhi Sadewa is planning to activate a bond stabilization fund in a bid to support the rupiah and protect the bond market from global pressures, The Jakarta Globe reported Thursday.The deployment of the fund aims to steady the securities (SBN) market amid increasing yields that can lead to falling bond prices and an increased likelihood of capital losses, the report said.By using the fund, the size of which has not been disclosed, to acquire SBN in the secondary market as required, the government can reportedly boost market confidence and control foreign outflows.The program will be under full control of the Finance Ministry, Purbaya said and The Jakarta Globe reported.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$^JKSE
Asia

Value of Offshore M&As by Chinese Companies in Q1 Rises to Highest Since 2020, Think Tank Says

Overseas mergers and acquisitions by Chinese companies surged the fastest in five years during the first quarter, according to data from think tank Rhodium Group.In the first quarter, offshore M&A reached $9.6 billion, increasing for the fifth straight quarter to the highest quarterly value since the last quarter of 2020, the group said.The quarter's largest transaction was the purchase of Canadian miner Allied Gold by Zijing Mining (SHA:601899, HKG:2899) unit Zijin Gold International's (HKG:2259) for CA$5.5 billion, the think tank said.

$^SSEC$^SZSE
Asia

Market Chatter: Four Indonesian Banks Integrate Apps with Chinese Digital Payment Platforms

Several large Indonesian banks integrated their mobile banking services with China's digital payment platforms to ensure ease of payments for travelers to China, The Jakarta Globe reported Friday.Bank Rakyat Indonesia (IDX: BBRI), Bank Negara Indonesia (IDX:BBNI), PT Bank Mandiri (Persero) (IDX:BMRI), and Bank Central Asia (IDX:BBCA) integrated cross-border QRIS services into their apps to facilitate the transactions.The connection with Alipay, UnionPay, and Weixin Pay, and others will eliminate the need for Indonesian travelers to convert and carry US dollars by allowing direct payments in rupiah using QRIS.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$IDX:BBCA$IDX:BBNI$IDX:BBRI$IDX:BMRI