Evolution Mining raised approximately $525 million through a fully underwritten institutional placement.

Funds will partially finance the acquisition of an 80% interest in the Northparkes Copper-Gold Mine from CMOC Group.

The non-underwritten share purchase plan is set to open on Dec. 13, allowing eligible shareholders to apply for new shares without brokerage costs.

The share purchase plan aims to raise up to $60 million to support integration costs related to the transaction and general working capital.