London, which has historically been the main hub for trading in spot gold, also saw volumes of swaps and forwards increase.

Company will use the proceeds to fund the initial payment of C$140 million.

Company expects to make a decision on the next steps for its Ontario gold project in the second half of the year.

The new company will have a royalty portfolio that includes a 2% net smelter return royalty on First Majestic’s Ermitano West gold deposit in Sonora.

The company said it will use a remote quarantined camp so that workers keep their distance from nearby communities.

Mining accounts for nearly 6% of its gross domestic product.

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