Archives: Mining mergers and acquisitions

MAXAM, a global technology company specialised in the design, development, manufacture and application of energetic materials, announces that shareholder Advent International has agreed to sell its 45% stake in the company to investment funds affiliated with Rhône Capital. MAXAM’s shareholder group, led by Chairman and CEO José F Sánchez-Junco, will continue to hold the remaining[…]

DRDGOLD has completed the acquisition of Sibanye-Stillwater’s West Rand Tailings Retreatment Project (WRTRP) assets in South Africa, over nine months since the deal was initially announced. Niël Pretorius, DRDGOLD CEO, said the acquisition was key to the company’s growth strategy, increasing its gold reserves by 90% to 5.75 million ounces. “The way is now clear[…]

Gold Fields Ltd  has completed the joint venture transaction with Asanko Gold, with Gold Fields acquiring a 50% stake in Asanko’s 90% interest in the Asanko gold mine in Ghana. Gold Fields is expected to equity account its share in the JV, with attributable production and costs incorporated into the group numbers from completion. Asanko’s[…]

Paladin Energy Ltd has announced the execution of a Bid Implementation Agreement (BIA) under which it is proposed that Paladin will acquire all of the issued shares of Summit Resources Ltd that it does not presently own, on a scrip for scrip basis by way of a recommended off-market conditional takeover offer. Paladin is a[…]

These are busy times for India’s state-owned iron ore miner NMDC. In the Chitoor district of Andhra Pradesh the company bid against other major miners such as Vedanta, Adani, Ramgadh and Rungta for a mining licence area of 263.01 ha in the Chigargunta-Bisanatham gold block which NMDC Joint General Manager for Mechanical Engineering GSSV Suresh[…]

Owner Resource Group (ORG) has acquired K-Tec Earthmovers, an industry leading manufacturer of pull-pan earthmoving scrapers and accessories for mining and other end-markets. Austin-based ORG partnered with the owners and management of K-Tec to acquire a majority stake of the company. Founded in 2000, K-Tec has grown to be an industry leader with a reputation[…]

Newmont Mining Corp has come to agreements to acquire a 50% interest in the Galore Creek Partnership (GCP) from NOVAGOLD Resources, and to form a partnership with Teck Resources, who owns the remaining stake. Galore Creek, located in British Columbia, Canada, is one of the largest undeveloped copper-gold projects with resources previously reported by Teck[…]

Rio2 Ltd and Atacama Pacific Gold Corp report that the business combination of the two has now been completed by way of a court approved plan of arrangement through which the companies amalgamated as a single entity. The combined company will continue to operate under the name Rio2 Ltd and will be managed by Rio2’s[…]

Anglo American’s Board has approved the development of the worldclass Quellaveco copper project in Peru. Ore Reserves total some 1,300 Mt at a Reserve grade of 0.58%TCu. Additional Mineral Resources are estimated at 1.500 Mt at a grade of 0.35%TCu. Mark Cutifani, Chief Executive of Anglo American, commented: “Quellaveco is one of the world’s largest[…]

In another sign Anglo American Platinum is confident in the long-term fundamentals of the precious metal, it has agreed to purchase Glencore’s 39% interest in the Mototolo joint venture operation in the Bushveld of South Africa. Amplats could pay up to R22 billion for the interest as part of a complex deal that involves an[…]