Archives: Mining mergers and acquisitions

DRA Global and Novus Engineering Inc have announced a collaborative partnership which will serve mining and minerals clients in Western Canada. The partnership will combine DRA’s global engineering, projects and plant operations capability with Novus’ experienced team of industry professionals including its extensive knowledge of the local Vancouver and Western Canadian mining market place. Together[…]

Operations at Freeport McMoRan’s Grasberg copper/gold mine in Indonesia have been allowed to continue while the Indonesian government negotiates a controlling stake in the mine, Investing News Network (INN) reports. As reported by Reuters, the operational permit for the mine has been extended until the end of July after it expired at the end of[…]

DRA has entered into an agreement to acquire Queensland-based G&S Engineering, as it looks to expand its footprint and project execution capabilities in Australia. The conditional sale and purchase agreement for the acquisition has been signed with G&S’ owner Calibre Group. DRA said: “The acquisition provides DRA with a significantly expanded footprint in Australia, specifically[…]

Lumina Gold Corp has announced the signing of a formal earn-in agreement with First Quantum Minerals Ltd (FQM) relating to Lumina’s Orquideas and Cascas concessions. The terms of the five-year agreement, which commits FQM to contributing $1.5 million to the development of exploration work in the first year and grants FQM the option of contributing[…]

MMG Ltd has agreed the sale of its 90% interest in Lane Xang Minerals (LXML), which owns the Sepon mine in Lao PDR, to Chifeng Jilong Gold Mining Co Ltd (Chifeng), for $275 million. Sepon’s current copper operation has a projected mine life to around 2020; however, the mine life has the potential to be[…]

Newmont Mining has welcomed Sumitomo as a new and valued partner in Minera Yanacocha SRL following its purchase of a 5% stake in the partnership. Newmont, Buenaventura and Sumitomo completed the transaction today in which Sumitomo paid $48 million for the ownership interest in Yanacocha. In December 2017, Yanacocha repurchased the International Finance Corporation’s (IFC)[…]

Roskill notes that “prices for cobalt metal hit their highest levels in ten years in H1 2018, reaching over $90,000/t on the LME. Since 2017, a tight market, set against anticipated demand for cobalt in lithium-ion batteries and concerns over long-term access to cobalt resources, has helped prices reach dizzying heights. These longer-term narratives and[…]

Rio Tinto and Minmetals have today formalised a Joint Venture Contract to establish a 50:50 joint venture to explore for worldclass mineral deposits in China. It follows a Technical Collaboration Contract signed in November 2017 when both parties committed to a collaborative partnership in mineral exploration. The joint venture is subject to regulatory approvals. Rio[…]

On March 19, 2018, Compagnie Générale des Établissements Michelin and Fenner PLC announced that they had reached an agreement on the terms of a recommended cash acquisition pursuant to which Michelin would acquire the entire issued and to be issued share capital of Fenner by means of a court sanctioned scheme of arrangement under Part[…]

Tesla has closed a deal with Australia’s Kidman Resources for lithium on an initial three-year term and on a “fixed-price take-or-pay basis” from the first product delivery. Kidman recently chose a site to develop a lithium processing plant in Kwinana, Western Australia, with its joint venture partner Sociedad Quimica y Minera de Chile (SQM) to[…]