BUZZ-Austral Resources Australia rises to 2-1/2-year high on mining lease deal with Glencore unit

Reuters

01/16

** Shares of Austral Resources Australia AR1.AX rise as much as 24% to A$0.13, their highest level since August 31, 2023

** The copper cathode producer says it entered into an agreement with Glencore AG to acquire Lady Loretta mining leases, others

** Co to pay Glencore 2.5% Net Smelter Return royalty on all copper oxides and copper sulphides produced from mine

** Co says to receive $30.4 million at deal completion

** Lady Loretta mine produces zinc-lead ore in Queensland

** Stock up 20% so far this week, set for its fifth consecutive weekly session of gains, if current trend holds

** AR1 fell 64.4% in 2025, up more than 100% YTD

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))

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08:43</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-Austral Resources Australia rises to 2-1/2-year high on mining lease deal with Glencore unit</title></head><body><p>** Shares of Austral Resources Australia <span>AR1.AX</span> rise as much as 24% to A$0.13, their highest level since August 31, 2023</p><p>** The copper cathode producer says it <span>entered</span> into an agreement with Glencore AG to acquire Lady Loretta mining leases, others</p><p>** Co to pay Glencore 2.5% Net Smelter Return royalty on all copper oxides and copper sulphides produced from mine </p><p>** Co says to receive $30.4 million at deal completion</p><p>** Lady Loretta mine produces zinc-lead ore in Queensland</p><p>** Stock up 20% so far this week, set for its fifth consecutive weekly session of gains, if current trend holds </p><p>** AR1 fell 64.4% in 2025, up more than 100% YTD</p><p>(Reporting by Aamir Sheik Khalid in 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