Copper Mountain Mining Corporation has finalized an agreement to sell its Eva Copper Project and its exploration land package in Queensland, Australia to Harmony Gold Mining Company Limited. The transaction is valued at up to $317.5 million (US$230 million). The sale follows Copper Mountain's acquisition of the Eva Copper Project through the purchase of Altona Mining Limited in 2018. Gil Clausen, Copper Mountain's CEO, expressed satisfaction with the deal, emphasizing the value the company has added to the project. CFO Letitia Wong highlighted the financial benefits of the sale, expecting a boost in free cash flow from 2023 and predicting the self-funding of the mine's expansion. The transaction awaits approval from Australia's Foreign Investment Review Board and Copper Mountain bondholders. It is set to conclude in the first quarter of 2023 after obtaining the nod from the South African Reserve Bank. Copper Mountain's financial and legal advisors include Macquarie Capital, Davies Ward Phillips & Vineberg LLP (Canadian counsel), and Corrs Chambers Westgarth (Australian counsel).