Canadian mineral exploration company Genius Metals has announced its agreement to acquire a 100% stake in the Paka lithium property located in James Bay, Québec, Canada. The property consists of 189 contiguous claims covering over 97km² in the prospective Archean La Grande greenstone belt, just 15km south of the Trans-Taiga government road. As per the terms of the deal, Genius...
Deals news
Glencore in Talks to Back Eramet’s Lithium Project in Argentina, Securing Future Supply
Glencore Plc, a prominent commodity trader, is currently engaged in advanced negotiations to support a lithium project in Argentina led by French mining company Eramet SA. According to insiders familiar with the matter, Glencore will enter into an offtake agreement with Eramet, offering financial assistance for the construction of the lithium processing plant in collaboration with China’s Tsingshan Holding Group...
ACG Strengthens Market Presence with Full Ownership of Technical Aluminium Foil Company
ACG, the world’s leading integrated pharma manufacturing solutions company, has announced its complete shareholding ownership of Technical Aluminium Foil Company (TAFC). This strategic move signifies ACG’s commitment to expanding its presence in the Middle Eastern and African markets, solidifying its growth trajectory. As a comprehensive provider of pharmaceutical manufacturing solutions, ACG offers a diverse range of products, including capsules, films,...
SAMI and EnPot Collaborate to Enhance Energy Efficiency in Aluminum Smelters
Shenyang Aluminum and Magnesium Engineering and Research Institute Co. Ltd. (SAMI) and EnPot Ltd, a New Zealand-based company, have signed an Intention to Cooperate Agreement in a ceremony held in Beijing, attended by New Zealand’s Prime Minister Chris Hipkins. The agreement reflects the shared vision of both companies to explore the application of EnPot’s patented deep modulation technology in conjunction...
Endeavour Mining Sells Gold Mines in Burkina Faso for $300 Million to Focus on Quality Assets
Endeavour Mining announced on Friday the sale of its 90% interests in the Boungou and Wahgnion gold mines in Burkina Faso for approximately $300 million. The move is part of the company’s strategy to prioritize higher quality assets. The buyer, Lilium Mining, a subsidiary of Lilium Capital, is an investment vehicle focused on African and frontier markets, led by West...
Kazakhstan to Strengthen Cooperation with EU in Critical Raw Materials
Kazakhstan and the European Union have agreed to strengthen cooperation in critical raw materials on the sidelines of the 13th international congress Astana Mining & Metallurgy held on June 1-2, reported the Ministry of Industry and Infrastructure Development. Minister of Industry and Infrastructure Development Marat Karabayev and Vice President of the European Commission Maroš Šefčovič also discussed implementing the first...
Teck Resources spins off steelmaking coal unit to focus on energy transition metals, takes new name
Canadian diversified miner Teck Resources announced on Tuesday it would spin off its steelmaking coal business into a new company, called Elk Valley Resources (EVR), to focus on energy transition metals. The remaining business will take a new name, Teck Metals, and retain steelmaking coal cash flows for the transition period. The deal will be structured as EVR’s spin-off. Teck...
Glencore puts 23% stake in Peruvian zinc, silver miner Volcan for sale
Swiss miner and trader Glencore said in its annual report it had put up for sale its 23% stake in Peruvian zinc and silver miner Volcan. “In Q4 2022, Glencore commenced a process exploring the possible disposal of its 23.3% economic interest in Volcan. As a result, the carrying amounts of Volcan assets and liabilities as at 31 December 2022...
Nornickel renews contracts with the bulk of its customers for 2023
Photo courtesy of Norilsk Nickel Press Service Norilsk Nickel, the world’s largest producer of nickel and palladium, has extended contracts with the majority of its customers for 2023. This news comes straight from the company’s Chief Financial Officer, Sergey Malyshev, who shared the details with journalists. “We are not giving our clients the runaround,” said Malyshev. “There are no sanctions...
Commodity Trader Traxys Acquired by Management, Pool of Investors
Large metals and commodities trader Traxys announced on Monday that its management and a pool of investment firms would acquire 100% of its shares. The deal is expected to be closed in May after regulatory approvals, its value is undisclosed. The company’s сurrent owners include funds managed by global investment firm Carlyle and affiliates of Louis M. Bacon, the founder...