Sydney-based conglomerate Washington H. Soul Pattinson has...

Sydney-based conglomerate Washington H. Soul Pattinson has placed its base and precious metals producer Round Oak Minerals on the market.The business is likely to be worth at least $100m and a flyer is currently in the market, with expressions of interest being sought by prospective buyers through the WHSP-backed Pitt Street Partners.Bids are understood to be due at the end of the month.READ NEXTLIVE: CORONAVIRUS CRISISPM flags easing of restrictions soonerRICHARD FERGUSON, ANGELICA SNOWDEN, ADESHOLA OREIt is understood that WHSP has opted to divest the business because it does not fit its areas of expertise.The group has recently expanded by acquiring mines to add zinc and gold projects to its portfolio of existing copper assets.Round Oak has copper and gold projects in northwest Queensland, including its Mount Colin Mine, and zinc and copper projects in the northern goldfields region of Western Australia, including its recently acquired Jaguar Mine, along with South Australian gold assets.It acquired the Jaguar Mine from Independence about two years ago for $73m.The sales process offers evidence that some dealmaking activity is continuing in the mining space, which is one of the least affected in Australia by the COVID-19 disruptions.