Global Infrastructure SherpaSt Barbara receives A$389m investment from Lingbao Gold Group for New Simberi Gold Project
St Barbara received an A$389 million ($269.5 million) investment from Lingbao Gold Group for the New Simberi Gold Project. This investment enabled the final investment decision (FID) to proceed with the project's construction. St Barbara and Lingbao Gold Group will jointly undertake the construction of the New Simberi Gold Project. The funding secures the necessary capital for the development of this material gold mining operation. This transaction underscores a strategic partnership between the two companies in the gold sector.
Counterparts (2)
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- A$389 million investment
- New Simberi Gold Project
- April 2, 2026 announcement
- St Barbara and Lingbao Gold Group joint construction
- A$389 million equivalent to $269.5 million
Source Intelligence
The New Simberi Gold Project has a construction cost of $333m. This amount includes about $13m that St Barbara had spent on the project by March 2026. St Barbara has secured full funding for its 50% share of the New Simberi Gold Project construction costs. The company expects to record around A$0.5bn gain from the transaction, which will be included in FY26 financial results, with no expected tax liabilities. The New Simberi Gold Project plans to expand the current Simberi mining and processing operations to process higher-grade sulphide ore reserves. Mining output is set to increase to approximately 20 million tonnes per annum (mtpa), doubling the current 10mt. The project aims to boost production to over 200,000oz per annum, with an anticipated all-in sustaining cost between $1,100 and $1,400 per ounce. The projected mine life is 13 years, based solely on the existing ore reserves, not accounting for any additional mineral resource conversions or exploration targets.
"St Barbara has received A$389m ($269.5m) from Lingbao Gold Group for its investment in the New Simberi Gold Project and has approved the final investment decision (FID) to proceed with project construction, alongside Lingbao."
"St Barbara has received A$389m ($269.5m) from Lingbao Gold Group for its investment in the New Simberi Gold Project"
"Macquarie Capital (Australia) is acting as the financial adviser"
"Mallesons as the legal adviser for St Barbara."
"The completion of a separate transaction with Kumul Mineral Holdings is awaiting regulatory approval from Papua New Guinea’s Independent Consumer and Competition Commission (ICCC) and National Executive Council (NEC)."
Timeline
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