Geneva – October 14, 2026 -- Mercuria Group has agreed to a AUD 40,000,000 prepayment to Heritage Minerals, securing offtake rights to the first 210,000 ounces of gold in doré produced at the Mount Morgan mine in Queensland, Australia.
Mercuria locks in four years of Mount Morgan doré output
The offtake runs over a period of 4 years. Production is due to commence in Q4 2026, which makes the facility a financing bridge into the mine's restart of operations.
The prepayment and offtake structure ties Mercuria's capital directly to physical gold deliveries from the site. The source does not disclose pricing terms, repayment mechanics or the pace of ramp-up.
Mercuria ties deal to precious metals expansion in Australia
Kostas Bintas, Global Head of Metals and Minerals at Mercuria, said the agreement fits the trader's strategy of growing its precious metals business and deepening its footprint in Australia. He added that the deal reflects a commitment to long-term partnerships and to financial solutions for sustainable resource development and environmentally friendly rehabilitation.
Mount Morgan is a restart project, and the agreement is framed around supporting the resumption of operations at the site.