08:33 AM EDT, 09/09/2024 (MT Newswires) -- BHP Group ( BHP ) has entered into a deal for the sale of the CentroGold Project in Brazil's prospective Gurupi Gold Belt to G Mining Ventures, G Mining said Monday.

G Mining said the project is included in the purchase and sale agreement it has signed for the acquisition of tenements in the Gurupi Gold Belt from wholly owned subsidiaries of BHP.

In exchange for the acquisition, G Mining will grant BHP a 1% NSR royalty on the first 1 million ounces of gold produced at the project and a 1.5% NSR royalty on gold production after that, G Mining said.

The company said the transaction is expected to close in Q1.

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