Deterra Lists on the ASX

24-Oct-2020 Intellasia | FTI Consulting | 6:02 AM Print This Post

Deterra Royalties (ASX: DRR) (“Deterra” or the “Company”) is pleased to announce that it has been admitted to the Australian Securities Exchange (ASX) today, 23 October 2020, and that the Company’s ordinary shares have commenced trading.

Deterra is Australia’s largest ASX-listed resources royalty company, with its flagship asset being a royalty over BHP’s Mining Area C (MAC) iron ore mine.

In addition, Deterra has a portfolio of five other significantly smaller royalties previously held by Iluka Resources.

At approximately 9am (WST) Deterra was trading at $4.84, giving the Company a market capitalisation of $2.56 billion.

Commenting on the ASX listing, Deterra Managing director and Chief Executive Officer Julian Andrews said:

“It is pleasing that Deterra has been able to list on the ASX so that investors can receive, through our Mining Area C royalty stream, earnings and dividends from one of the premier iron ore mines globally, as well as a disciplined growth strategy that builds a portfolio of royalties over time.

“Obviously, we are very pleased with the initial support today, however I’m focused on building a successful business and delivering the value that we believe it can generate for our shareholders.”

 

Category: FinanceAsia

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