Greatland Gold PLC (AIM:GGP, OTC:GRLGF) said it expects to complete the acquisition of the Havieron project and Telfer mine by early next month.
In an update, Greatland added that remediation work on the Telfer tailings dam has been completed, foreign investment approval granted and permission given to transfer the lease at Port Hedland.
Greatland added that Telfer employees had also agreed to join the company.
Finalisation of the A$75 million working capital facility and A$25 million contingent instrument facility is expected to be finalised and executed by the end of this month (November 2024).
Shaun Day, Greatland's managing director, added: "We are delighted to be nearing completion of Greatland's transformational acquisition of Telfer and Havieron.
“We congratulate Newmont on the successful restart of processing operations and are excited to take over in a matter of weeks and emerge as a significant Australian gold and copper producer, with completion targeted by early December 2024."
Greatland agreed to buy Havieron and Telfer for US$475 million in September.