Archives: Mining mergers and acquisitions

Evolution Mining has entered into a binding agreement to acquire an 80% interest in the Northparkes copper-gold mine in New South Wales from China’s CMOC Group Ltd for a total cash consideration of up to US$475 million. Sumitomo Metal Mining and Sumitomo Corporation will retain their 20% interest in the Northparkes JV. The deal will increase Evolution’s[…]

Weir has acquired Sweden-based SentianAI in a move that, it says, will accelerate its technology roadmap and expand its digital capability to provide enhanced productivity and sustainability offerings to customers. SentianAI is a developer of artificial intelligence-based solutions that optimise performance in minerals processing. Founded in 2016, it is based in Malmö and has a team[…]

MMG Ltd has entered into a Share Purchase Agreement (SPA) to acquire Cuprous Capital, the parent company of the Khoemacau Copper Mine in Botswana, for an effective Enterprise Value of US$1,875 million. Khoemacau is one of the highest quality new copper mines globally. The transaction aligns to MMG’s strategy to build a portfolio of high-quality[…]

Nalco Water, an Ecolab company, has acquired Flottec in a move that, it says, will expand its flotation offerings and its work to serve the industry from mine to metal. During the next few months, the company will be integrated into the Global Mining division of Nalco Water, Ecolab’s water and process management business. The[…]

Teck Resources has agreed to sell its entire interest in its steelmaking coal business, Elk Valley Resources (EVR), through a sale of a majority stake to Glencore for an implied enterprise value of $9.0 billion, and a sale of a minority stake to Nippon Steel Corporation (NSC). The sale of Teck’s steelmaking coal business at[…]

Volvo Group has been selected as the winning bidder in an auction for Proterra Inc and Proterra Operating Company Inc, with the Sweden-based company set to spend on assets including a development centre for battery modules and packs in California, and an assembly factory in South Carolina. The business and assets of the Proterra Powered[…]

Following previous announcements made on June 15 and November 2, 2023, Avalon Advanced Materials Inc and SCR-Sibelco NV have announced the closing of their joint venture transaction. The new joint venture company, Separation Rapids Ltd (SRL), has a mandate to advance mining activities at the flagship Separation Rapids hard rock lithium (petalite) deposit near Kenora, Ontario,[…]

Newmont Corporation has announced the completion of the acquisition of Newcrest Mining Limited to create what it says is the world’s leading gold company with robust copper production. Featuring more than half of the world’s Tier 1 assets, according to the company, Newmont’s unmatched portfolio of long-life operations, value-accretive projects, abundant exploration opportunities, and world-class[…]

Perenti continues to make inroads across the mining value chain, reflected of late with the recent acquisition of DDH1, record 2023 financial year results and deployment of some of its initial artificial intelligence-backed solutions from the idoba technology business. Against this busy backdrop and a keynote address at IMARC in Sydney, IM caught up with[…]

IMDEX has revealed record September-quarter revenue of A$126.1 million ($79.4 million) as the group continues to benefit from the recent acquisition of Devico. Revenue was up 19% on the same time last year, with Devico contributing about A$18.2 million, or 17%, of the increase. Organically, excluding Devico, revenue was A$107.9 million, a 2% increase on[…]