Archives: Mining mergers and acquisitions

Hecla Mining and Klondex Mines report that Hecla’s acquisition of Klondex is complete. “With this acquisition, Hecla now has three high-grade mines in Nevada, one of the best mining districts in the world,” said Phillips S. Baker, Jr., President and CEO. “These assets immediately add production and cash flow, and because they are a good[…]

Minotaur Exploration Ltd reports that the extended drilling program along the Jericho ‘J1’ and ‘J2 North’ copper conductors at the Eloise JV southeast of Cloncurry, Queensland, Australia, has been further expanded, upon geological interpretation of drill core. The scope of the drilling campaign has been increased from the announced1 1,700 m to 2,500 m for[…]

De Beers has signed a pact to acquire Vancouver-based junior Peregrine Diamonds as the major looks to expand its Canadian business with the addition of the Chidliak project in Nunavut. The C$107 million deal has been unanimously recommended by Peregrine’s board of directors to Peregrine shareholders with some 44 % of investors already agreeing to[…]

Inca One Gold Corp has entered into a definitive purchase agreement to acquire 100% ownership of Anthem United, which owns a 90.14% interest in the 350 t/d Koricancha ore processing facility in Peru, from Equinox Gold Corp for cash and shares totalling approximately C$16.3 million, less any IGV tax credits collected to the benefit of[…]

In its just released Q2 2018 report, Sandvik reports that business is booming – its Mining and Rock Technology business saw order intake improve organically by 15% year-on-year on strong development in most product areas. Revenues increased organically by 16% supported by strong order intake in recent quarters and favorable demand in the aftermarket business.[…]

Orca Gold Inc and Resolute Mining Ltd have closed the second of two tranches of a previously announced private placement. “In six years, commented Rick Clark, CEO and Director of Orca Gold, “we managed to discover the Block 14 gold project, significantly de-risk it and demonstrate Sudan’s merits as a favourable mining jurisdiction with a[…]

Further to yesterday’s Rio Tinto Grasberg news, Freeport-McMoRan (FCX) has entered into a Heads of Agreement with the Indonesian state-owned enterprise PT Indonesia Asahan Aluminium (Inalum) and PT Freeport Indonesia’s (PT-FI) joint venture partner Rio Tinto. Under the terms of the non-binding Heads of Agreement, Inalum will acquire for cash consideration of $3.85 billion all[…]

Rio Tinto has agreed to sell its interest in the prolific Grasberg copper-gold mine in Indonesia for $3.5 billion, with state-owned mining company PT Indonesia Asahan Aluminium the buyer. The non-binding agreement between Rio, Inalum and majority owner Freeport McMoRan will see Inalum pay $3.5 billion for Rio’s right to 40% of production from Grasberg[…]

The Weir Group has completed the acquisition of ESCO Corp, the world’s leading provider of ground engaging tools for surface mining and infrastructure markets, for an enterprise value of $1,285 million.  It follows regulatory clearance for the transaction, which was first announced on 19 April 2018. Commenting, Weir Group Chief Executive Jon Stanton said:“We are[…]

Technosub has signed as Schwing Bioset’s mining distributor for Canada. With headquarters in Rouyn-Noranda, Quebec, and nine locations across Canada, Technosub is recognised for its innovative and fully integrated pumping solutions in the mining and industrial water management sectors. The company sells, rents, manufactures, and repairs pumps and pumps components. President & CEO of Technosub,[…]