Narryer Metals has announced a strategic deal to acquire a 70% stake in two promising lithium-tantalum projects, Big Hill and Fran, located in the Northwest Territories’ Yellowknife Lithium Province, Canada. This move marks a significant step in Narryer Metals’ expansion into the North American lithium market, with the projects situated in the mineral-rich Archean Slave...
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Alumina, an Australian powerhouse in bauxite and alumina production, has officially accepted a $3.3 billion all-scrip offer from its US joint venture partner, Alcoa. This strategic move is set to consolidate the ownership of the Alcoa World Alumina & Chemicals (AWAC) assets, further solidifying Alcoa’s status as a leading producer in the aluminium and bauxite...
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Chilean mining giant SQM, in partnership with Hancock through their joint venture, SH Mining, is poised to acquire all shares of Azure Minerals. This strategic move follows approval from the Australian competition authority, signaling a green light for the operation. The board of Azure Minerals has unanimously endorsed the proposed transaction, contingent upon no superior...
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Xiamen Tungsten has announced that its wholly-owned subsidiary, CHIXIA Laos Holdings, is set to acquire a 90% stake in China Investment (Laos) Mining for a total of US$18,963,000. The deal, which involves a combination of cash and debt arrangements, includes US$6,276,500 for equity transfer and US$12,686,500 to repay loans from related parties to CIC Land....
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Amur Minerals has recently announced its status as an AIM Rule 15 cash shell and is making progress toward completing a Reverse Takeover (RTO), a strategic move aligning with AIM Rule 14. On January 25, 2024, Amur entered into a preliminary agreement to acquire a UK-based pharmaceutical company, identified as the Target. This company has...
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PT Vale Indonesia Tbk (INCO), following the divestment of 14% of its shares to the Indonesian Mining Industry Holding MIND ID, is set to expedite the development of three significant nickel downstream projects, totaling an investment of up to US$ 9 billion. The divestment deal, which saw MIND ID investing approximately US$ 300 million, will...
READ MOREIn a strategic move prompted by investment restrictions, Sumitomo Metal Mining Co., Ltd., along with Vale Canada, has announced the partial divestiture of their holdings in PT Vale Indonesia (PTVI), a key player in the Indonesian nickel exploration and smelting sector. This decision aims to comply with the Indonesian government’s mandate that a majority of...
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In a notable industry move, the Krasnoyarsk Non-Ferrous Metals Plant, known as Krastsvetmet, has successfully acquired the Russian division of ThyssenKrupp Industrial Solutions (RUS), based in Dzerzhinsk, Nizhny Novgorod region. This acquisition from the German conglomerate was confirmed through an announcement on the company’s website, marking a significant step in Krastsvetmet’s expansion strategy. While the...
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Newmont is looking to offload six mines and two development projects, aiming to generate $2 billion. Among the assets for sale are the Akyem mines in Ghana, highlighting a strategic move to streamline its operations following the acquisition of Newcrest Mining Ltd. This acquisition, valued at roughly $15 billion, has further established Newmont as the...
READ MOREChina’s Yintai Gold is set to acquire Osino Resources for a robust $272 million, marking a significant development in the mining sector. This acquisition comes as Osino Resources, recognized for its Twin Hills gold project in central Namibia, looks to accelerate the project’s development. Osino’s CEO, Heye Daun, expressed that Yintai’s all-cash offer of C$1.90...
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U.S.-based Alcoa has announced a $2.2 billion all-stock proposal to acquire its Australian joint venture partner, Alumina. This strategic move aims to consolidate Alcoa’s upstream operations and simplify its corporate structure, providing greater control over the Alcoa World Alumina and Chemicals (AWAC) venture. AWAC, a significant player in bauxite mining and alumina refining, operates across...
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Polymetal, a leading gold mining company, has announced an agreement to sell its Russian business to Mangazeya Plus, a subsidiary of Sergei Yanchukov’s Mangazeya Group. This move is part of Polymetal’s strategic reorientation in response to the challenging geopolitical landscape. Mangazeya Group, with interests in gold mining, gas, agro-industry, development, and venture investments, has a...
READ MOREIndonesia and Vale Base Metals have finalized their negotiations, reaching a preliminary agreement on the pricing for a share divestment plan involving Vale’s Indonesian unit. This development, confirmed by the Indonesian mining minister on Friday, marks a significant step towards fulfilling the regulatory requirements for extending Vale Indonesia’s mining operations beyond 2025. Under the terms...
READ MOREIn a significant development for the mining industry, Royal Gold, through its subsidiary RGLD Gold AG, has finalized an agreement with Centerra Gold and its Thompson Creek Metals Company Inc. unit, aimed at extending the operational life of the Mount Milligan mine until 2035. This collaboration not only highlights the commitment of both companies to...
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Capstone Copper and Orion Fund, along with Orion Mine Finance Fund II LP and Orion Mine Finance (Master) Fund I-A LP, have announced a significant financial deal involving the sale of 59,520,000 common shares at a price of C$6.30 (USD 4.725) each, totaling C$374,976,000 (USD 281,232,000) in gross proceeds. This deal, orchestrated by a syndicate...
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In a move that promises to revitalize the Mt Isa smelter, True North Copper (TNC) has entered into a significant offtake and toll-mining agreement with global mining giant Glencore. This partnership marks a pivotal development for the Cloncurry Copper Project (CCP), as Glencore commits to purchasing 100% of the copper produced, with provisions to toll...
READ MOREAcron Holding, under the leadership of Pavel Morozov, has expanded its industrial and metallurgical portfolio with the recent acquisition of Transcat, a metallurgical plant in St. Petersburg. Specializing in the production of copper wire rod and contact wires, Transcat plays a strategic role in supplying its products to major cable plants in Russia and CIS...
READ MOREFalco Resources has finalized an operating license and indemnity agreement (OLIA) with Glencore Canada, marking a significant milestone for its Horne 5 project in Rouyn-Noranda. This agreement, stemming from a preliminary arrangement announced in June 2021, sets a cooperative framework for the development and operation of the Horne 5 project, considering its proximity to Glencore’s...
READ MOREIn a significant move within the aerospace industry, Arconic Corp is reportedly on the verge of selling its China business for an estimated $300 million. This decision reflects a growing trend among multinational firms reassessing their operations in China amidst various economic and geopolitical challenges. Strategic Shift Amid Global Trends Arconic, a major player in...
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The Ministry of Energy and Mineral Resources (ESDM) in Indonesia is actively engaged in the negotiation process regarding the divestment of a 14% stake in PT Vale Indonesia Tbk (INCO). According to the Director of Mineral and Coal Program Development, Ing Tri Winarno, the negotiations are still in progress, focusing on the valuation of the...
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Amendment to Existing Agreement Australian lithium producer Pilbara Minerals has announced an amendment to its existing offtake agreement with Ganfeng Lithium Group and its subsidiary, significantly increasing the supply of spodumene concentrate. This amendment enhances the short and medium-term supply to Ganfeng, a leading lithium chemical converter. Details of the Revised Supply Terms The original...
READ MORECanada Nickel has entered into a Subscription Agreement with Samsung involving an investment of US$18.5 million into Canada Nickel. The investment is priced at C$1.57 per Common Share. Following the completion of this private placement, Samsung SDI will own approximately 15.6 million shares, representing about 8.7% of Canada Nickel’s issued and outstanding shares on a...
READ MORESolaris Resources has confirmed a private placement agreement with an affiliate of Zijin Mining Group, amounting to approximately $130 million. Under this agreement, Solaris will issue 28,481,289 common shares at a price of $4.55 per share. This price represents a 14% premium over the closing price on the Toronto Stock Exchange as of January 10,...
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The Financial Market Commission (CMF) in Chile has requested Codelco to furnish a comprehensive list of individuals involved in the negotiation with SQM regarding the extension of their lithium extraction contract in the Salar de Atacama until 2060. This inquiry aims to investigate potential trading of shares in the non-metallic mining company during the eight-month...
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