Austral Resources Australia – Lady Loretta mine
On 16 February 2026, Austral Resources Australia Ltd (**Austral**) entered into an agreement with Noranda Pacific No. 2 Pty Ltd (**NP2**) and Mount Isa Mines Limited (**MIM**) (both indirect subsidiaries of Glencore plc) to acquire: * 100% of the shares in Noranda Pacific Pty Ltd (**NPPL**), the owner and operator of the Lady Loretta zinc mine in Queensland, from NP2 and MIM; and * the exploration permits associated with the Lady Loretta mine from MIM, (together, the **Acquisition**). The Lady Loretta mine ceased production in 2025. Austral is an Australian-based copper producer headquartered in Queensland. Austral owns and operates a number of copper mines in Australia, including the Lady Annie copper mine which is located 16km south of the Lady Loretta mine. NPPL, NP2 and MIM are indirect wholly-owned subsidiaries of Glencore plc, a multi-national commodity trading and mining company headquartered in Switzerland. Following completion, Austral will assume the progressive rehabilitation obligations of the Lady Loretta mine, and will enter into an offtake agreement with Glencore in respect of future copper products derived from the Lady Loretta tenements.
- Status
- Assessment completed
- ACCC determination
- Approved
- Stage
- Waiver application
- Notified
- 12 March 2026
- Determination published
- 7 April 2026
Acquirers
- AUSTRAL RESOURCES AUSTRALIA LIMITED
Targets
- NORANDA PACIFIC PTY LTD
- Noranda Pacific No. 2 Pty Ltd
- MOUNT ISA MINES LIMITED