Vale Base Metals (VBM) Ltd. has recently inked deals worth $3.4 billion with two Saudi Arabian-owned entities, marking a significant step towards the development of its base metals operations as an independent entity. The agreement will provide the necessary funding for VBM’s ambitious capital projects, focused on increasing the production of critical minerals essential for the automotive industry’s shift to...
Deals news
LithiumBank Announces Sale of Saskatchewan Projects to Pristine Lithium Corp.
LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) has entered into a definitive asset purchase agreement with Pristine Lithium Corp. (Pristine Lithium) to sell its three lithium brine projects, Estevan, Kindersley, and South, located in Saskatchewan, Canada. “The strategic sale of our Saskatchewan assets to Pristine Lithium will expedite the unlocking of our Saskatchewan properties’ true potential while allowing LithiumBank to...
SKC and Toyota Tsusho Form Joint Venture to Produce Battery-Grade Copper Foil in North America
SKC Co. has announced a strategic partnership with Japan’s Toyota Tsusho Corp. to establish a joint venture that will produce and supply battery-grade copper foil in North America, targeting the rapidly growing electric vehicle (EV) market. Under the memorandum of understanding, SK Nexilis Co., SKC’s subsidiary specializing in copper foil production, will join forces with Toyota Tsusho to co-invest in...
Ma’aden Acquires 10% Stake in Vale Base Metals, Bolstering Global Mining Investment Strategy
In a significant move to expand its global mining assets, Saudi Arabian Mining Company, known as Ma’aden, has entered into an agreement to acquire a 10% stake in Brazil’s base metals company Vale. The transaction, facilitated through Ma’aden’s joint venture Manara with the Public Investment Fund, is valued at $26 billion based on enterprise value. The investment is expected to...
Impala Platinum Completes Takeover of Royal Bafokeng Platinum
South African platinum miner, Impala Platinum (Implats), has successfully completed its bid to control Royal Bafokeng Platinum (RBPlat), raising its stake to 91%. The acquisition process involved purchasing a 34.5% stake in RBPlat from fellow South African miner, Northam, for R9 billion ($505 million) and around 30 million Implats shares. The rivalry between Northam and Implats to gain control of...
Ecuador Concludes Negotiations with SolGold for Massive Copper-Gold Mine Project
Ecuador’s government announced on Thursday that it has successfully concluded negotiations with Australian miner SolGold (OTCPK: SLGGF) to move forward with the development of the Cascabel copper-gold mine. The ambitious project is anticipated to require a substantial investment of nearly $5 billion over its operational lifespan. According to government projections, the Cascabel mine has the potential to yield approximately $35...
Emirates Global Aluminium Partners with ITOCHU Corporation to Boost Aluminium Production and Decarbonization
Emirates Global Aluminium (EGA) recently announced a significant memorandum of understanding (MOU) with ITOCHU Corporation of Japan to collaborate on aluminium production growth with a focus on decarbonization and developing domestic industries in EGA’s supply chain. The MOU was signed during the UAE’s Japan-UAE Business Forum and in the presence of esteemed dignitaries, including Abu Dhabi Executive Council member Sheikh...
Rio Tinto Invests in Sovereign’s Low Carbon Footprint Graphite Mining Project in Malawi
Rio Tinto is making a strategic investment of US$27.5 million in Sovereign Metals Limited’s Kasiya Rutile-Graphite Project in Malawi. Through this investment, Rio Tinto will acquire a 15% stake in Sovereign, with the potential to increase it to 19.99% within a year. The collaboration aims to tap into significant supplies of low carbon footprint natural rutile and flake graphite, targeting...
Korea Zinc Ventures into Competitive Battery Market
Korea Zinc, the world’s largest zinc and lead smelter, is poised to become a supplier of copper foil, a crucial component for battery manufacturing, to LG Energy Solution Ltd., the world’s second-largest battery maker. The company is currently providing sample supplies to LG Energy after successfully passing tests on LG batteries. If a formal agreement is reached, mass production of...
Vedanta Resources in Advanced Talks to Regain Control of Zambia’s Copper Mining Complex
Vedanta Resources Ltd., owned by Indian billionaire Anil Agarwal, has announced that it is in “advanced stage” talks to regain control of the Konkola Copper Mines Plc in Zambia, four years after the Zambian government took over the mining complex. Vedanta issued a statement on Sunday expressing its commitment to the negotiation process, even though the talks have taken longer...