Lingbao to Acquire 50% Stake in St Barbara Mining

Lingbao Acquisition Strengthens St Barbara Mining Partnership

Lingbao Gold Group is set to acquire a 50% stake in Australia’s St Barbara Mining (SMBL) for A$370 million ($245.57 million). This move positions Lingbao as a key partner in the Simberi gold project in Papua New Guinea (PNG). The transaction includes a joint venture structure that shares operational and financial responsibility equally between Lingbao and St Barbara.

The Simberi project will benefit from Lingbao’s international gold mining experience, including commercial-scale concentrate smelting. Meanwhile, the partnership with Kumul Mineral adds a 20% stake for A$100 million, further securing funding for the project. As a result, St Barbara reduces financial risk and accelerates its final investment decision (FID) timeline for the Simberi expansion.

The agreements remain subject to regulatory approval from both PNG and China, alongside the extension of the Simberi mining lease. Completion is anticipated in late Q3 of fiscal year 2026, providing clarity and stability for all stakeholders. Lingbao and St Barbara aim to optimize production while maintaining low capital intensity and competitive operating costs.

Strategic Impact of Lingbao and St Barbara Partnership

The Lingbao-St Barbara partnership ensures robust funding for the Simberi gold project while de-risking future operations. Both companies will hold 50% of SMBL, and operational control will be shared to maximize efficiency and resource development. Lingbao’s involvement strengthens technical expertise, financial stability, and long-term growth potential in the PNG gold sector.

St Barbara will also focus on advancing its Canadian Atlantic assets, including the Touquoy reopening and the 15 Mile Processing Hub development. The partnership allows St Barbara to pursue multiple growth initiatives simultaneously while leveraging Lingbao’s well-capitalized presence. This approach positions both firms to meet shareholder and stakeholder expectations effectively.

SuperMetalPrice Commentary:

Lingbao’s acquisition of a 50% stake in St Barbara Mining signals a strategic shift in Asia-Pacific gold investments. SuperMetalPrice sees this as a strong move to secure high-quality brownfield projects in PNG while maintaining low capital intensity. The deal highlights the increasing role of well-funded international partners in accelerating gold project development and reducing operational risk.