Miracle Iron Resources Pty Ltd agreed to acquire Zanthus Resources Pty Ltd. from CZR Resources Ltd (ASX:CZR) for approximately AUD 100 million on January 11, 2024. Miracle Iron Resources will pay AUD 81.6 million on completion; and AUD 20.4 million on the earlier of first shipment or June 30, 2025. Completion of the transaction is conditional upon shareholder approval, FIRB and Chinese government approvals and other customary conditions.

The transaction is expected to close in mid or late May 2024.Michael Ng, Sarah O'Brien-Smith and Nicholas Creed of Thomson Geer acted as legal advisor to CZR Resources Ltd (ASX:CZR).