Canada’s Franco-Nevada (TSX, NYSE: FNV) plans to expand its royalty and streaming business in Australia, chief executive Paul Brink said Thursday, as record-high gold prices fuel fresh investment in the sector.
Brink confirmed the Toronto-based firm has made two new hires in Western Australia, signalling its intent to back junior gold developers in the resource-rich state. “The reason that we are hiring is our plan to focus more on Australia,” he told a mining conference in Melbourne.
Australia, one of the world’s largest gold producers, is on track to make the metal its second most valuable export this financial year as prices soar to unprecedented levels.
Gold hit an all-time high above $4,000 an ounce on Wednesday, marking a 52% surge driven by uncertainty over global trade, U.S. fiscal stability, and concerns about Federal Reserve independence.
The rally has unleashed a wave of mergers…
