Newmont Corp, the world’s largest gold miner by market cap and production, has offered $16.9 billion to acquire Newcrest Mining Ltd, but this may not be enough amid the management reshuffle in the latter, Reuters reported on Monday, citing analysts. The current all-share no-cash bid represents a 21% premium to Newcrest’s stock price before the offer was announced, but analysts...
Deals news
Civmec to Equip Rio Tinto’s Western Range Iron Ore Project for $230mn
The diversified mining conglomerate Rio Tinto has awarded engineering company Civmec a contract worth 330 million Australian dollars ($229 million) to build and modify facilities for its Western Range project in the iron ore-rich Pilbara region in Western Australia, Civmec announced on 9 January. Under the contract, Civmec will build a new run of mine (ROM) pad, a primary crushing...
Constellium secures multi-year supply agreement with Daher for aerospace aluminium products
Constellium SE, a leading producer of aluminium products, has announced a multi-year contract with Daher, a French aircraft manufacturer, to supply a wide range of flat-rolled aluminium products. The contract will focus on supplying materials for Daher’s TBM and Kodiak aircraft, and will include joint supply chain initiatives and product development. Who Constellium SE, a publicly traded company that specializes...
Canadian Lion Copper and Gold announces agreement for Stage 2 Programme of Work with Nuton
Lion Copper and Gold Corp. announced that it has completed the Stage 1 Programme of Work and has reached an agreement with Rio Tinto America Inc. (“Rio Tinto”) on the scope of the Stage 2 Program of Work with Nuton, a Rio Tinto venture. Rio Tinto will now provide Stage 2 funding of USD 5,000,000 and an immediate advance of...
Russia’s Largest Lithium Deposit to Go Under Hammer in 2023
Russia’s largest lithium deposit, the Kolmozerskoye field, is set to go up for auction in 2023 with an initial price of 1.6 billion rubles. Heavily sanctioned by western governments, with no easy way to trade with global lithium suppliers, Russia was forced to restart the Kolmozersky lithium project to secure supplies of the metal, an essential ingredient in high-capacity power...
Exploration company signs development memorandum with Canadian Native American nation
Ring of Fire Metals (RoFM) has signed a memorandum of understanding (MoU) with the Webequie First Nation, outlining a framework for collaboration on proposed development in Northern Ontario’s Ring of Fire. Who Ring of Fire Metals and the Webequie First Nation have signed a memorandum of understanding outlining how the two parties will collaborate to advance ongoing exploration activity in...
Recycled lead and battery end products to be supplied to Glencore
Glencore is to sign a long-term agreement with recycling technology firm ACE Green Recycling, whereby the latter will supply recycled lead and key metal-based battery end products from recycled lithium-ion batteries. Under the 15-year agreement, Glencore will receive up to 100% of ACE’s products from four of its proposed lead-acid and lithium-ion battery recycling parks in the US, India and...
Vale intends to separate its base metal business
Around the midpoint of 2023, Brazil-based mining company Vale plans to split off its base metal operations into a separate company from its core iron ore business. Its nickel operations in Canada will be impacted by this decision, including those in Sudbury, Ontario; Thompson, Manitoba; and Voisey’s Bay, Newfoundland and Labrador. Who Vale executives announced the news at a New...
Half-billion-euro Finnish lithium project approved
EUR 588 million (USD 616.22 million) of capital expenditure has been earmarked for a lithium project in Finland. Who Diversified South African miner Sibanye-Stillwater is set to advance its Keliber lithium project in Finland, seeking a foothold in the European battery metals market. The company took control of Finnish battery chemicals maker Keliber in October after acquiring a 30.29% stake...
Canadian gold company sells off nickel assets
Wallbridge Mining sells all its nickel assets to Archer Exploration Corp. Who Canadian gold company Wallbridge is selling all the property, assets, rights and obligations associated with its nickel portfolio to Archer Exploration Corp, also based in Canada. The value of the deal is estimated to be around CAD 53.6 million in Archer shares (approximately 19.9% of outstanding common shares),...