Mercuria Backs Mount Morgan Gold Mine Restart with AUD 40 Million Deal
A AUD 40 million prepayment from commodity giant Mercuria is set to revive operations at the historic Mount Morgan gold mine in Queensland. The capital injection secures the rights for Mercuria to purchase the first 210,000 ounces of dore produced at the site over the next four years.
Production at the Australian mine is scheduled to restart in the final quarter of 2026. According to Kostas Bintas, the firm's global head of metals and minerals, the deal serves as a key pillar in expanding the company's precious metals footprint while financing environmentally focused rehabilitation at the site.
Mercuria, which generates over USD 140 billion in annual revenue, maintains a global reach spanning energy transition assets and critical minerals. This agreement marks a shift toward securing long-term supply chains through direct investment in resource development, rather than relying solely on traditional spot-market trading.
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