Golden Grove Mine
The Golden Grove Mine is a copper, lead, silver, zinc and gold mine located 52 km south-southeast of Yalgoo, Western Australia.
It is operated by EMR Capital, a specialist resources private equity manager, who purchased the mine from MMG in February 2017. Minerals and Metals Group was formed after its parent company China Minmetals bought the mine from OZ Minerals in June 2009. Golden Grove was part of a deal in which the Sepon, Century, Rosebery and Avebury Mines, the Dugald River, High Lake and Izok Lake Projects, as well as some exploration assets were sold for US$1.354 billion by OZ Minerals to China Minmetals.
The deal, initially including the Prominent Hill Mine, was blocked by the Australian Government, citing national security concerns. Wayne Swan, Treasurer of Australia, stated that Prominent Hill could not be included in the sale as it was within sensitive military area and the sale went only ahead after Prominent Hill was excluded.