CAML to Acquire New World Resources for A$185M, Expanding into Promising U.S. High-Grade Copper Project

Published: May 21, 2025 16:20

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[CAML to Acquire New World Resources for A$185 Million, Expands into High-Grade U.S. Copper Project]

On May 21, UK-listed Central Asia Metals (CAML) announced a definitive agreement to acquire Australia’s New World Resources (NWR) for approximately A$185 million (US$119 million) via a court-approved scheme of arrangement. NWR’s flagship asset is the Antler Copper Project in Arizona, USA—a high-grade VMS deposit. According to its 2024 PFS, the project is expected to deliver average annual production of 30,000 tonnes of copper equivalent over a 12-year mine life, with a post-tax NPV (7%) of US$498 million and an IRR above 30%. The orebody has a copper equivalent grade of 3.8%, containing copper, zinc, lead, silver, and gold. Pre-production capex is estimated at US$298 million. The deal will be funded by CAML’s internal cash and a newly secured US$120 million credit facility, with first production targeted around 2026. The NWR board has unanimously recommended shareholders vote in favor of the transaction. CAML expects the acquisition to significantly increase its copper exposure and cash flow profile.

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