Evolution Doubles Down on Queensland Copper with $213m Carnaby Takeover

Evolution Mining is expanding its presence in Queensland's copper mining district through the $213 million takeover of Carnaby Resources. The company, ASX's second-largest gold miner, has been relatively quiet in recent years as peers like Genesis Minerals and Gold Fields inked transformative deals. This acquisition brings Evolution closer to becoming a major player in the region.

The global energy transition is driving copper prices to near-record levels, making this takeover strategically timely for Evolution. Copper's high conductivity makes it essential for renewable energy infrastructure.