Archives: Mining mergers and acquisitions

Namdeb Holdings, a 50/50 joint venture between the Government of the Republic of Namibia and De Beers Group, today announced it is to seek a buyer for its Elizabeth Bay mine to secure its long-term future. The mine was commissioned in 1991 and is located along the south-western coast of Namibia near the town Lüderitz.[…]

PNX Metals Ltd has signed an agreement with a subsidiary of Kirkland Lake Gold Ltd for the acquisition of four Mineral Leases at Fountain Head in the Pine Creek region of the Northern Territory, Australia. 100% ownership of the high-grade Hayes Creek zinc-gold-silver project has also been affirmed. The acquisition of the MLs represents a[…]

Mountain Province Diamonds Inc has entered into a definitive arrangement agreement pursuant to which Mountain Province will acquire all of the issued and outstanding common shares of Kennady Diamonds by way of a court-approved plan of arrangement. David E. Whittle, Interim President and CEO of Mountain Province, stated: “The Kennady assets are a strong complement[…]

Northam’s acquisition of the Eland platinum mine (Eland) from Glencore Operations South Africa has been finalised and has become unconditional. Northam first advised of the acquisition of Eland in February 2017 for a cash consideration of R175 million which secures full ownership of the Eland mine and infrastructure, through Eland Platinum, a wholly-owned Northam subsidiary.[…]

  Anglo American plc is selling New Largo, owned by its 73%-held subsidiary Anglo American Inyosi Coal. The sale also includes the closed coal mine, Old New Largo closed colliery in South Africa. The purchaser New Largo Coal Proprietary Ltd is owned by Seriti Resources Proprietary Ltd and Coalzar Proprietary Ltd, two companies majority owned[…]

Thor Mining PLC has secured a strategic financing and agreement with London based Metal Tiger plc. Metal Tiger is to invest a further £300,000 (approximately A$525,000) in Thor Mining through a subscription for 10,000,000 shares. Highlights: A 20% premium to the closing share price of Thor on AIM Money raised will be applied to the[…]

Trading in Cradle Arc’s Ordinary Shares on AIM commenced today, under the ticker CRA.L (Admission). As part of the Admission process, the company has raised, in aggregate, £5.65 million before expenses, comprising £3.25 million in pre-IPO funding, via the issue of the October 2017 Convertible Loan Notes, which will automatically convert into Ordinary Shares on[…]

Australian gold producer, Southern Gold Ltd, has a new agreement with development partner, Westgold Resources Ltd for the underground development phase at Southern Gold’s Cannon gold mine, near Kalgoorlie, Western Australia). Proven underground gold mine operator Westgold Resources to pay A$1.5 million upfront to Southern Gold for a five year right-to-mine within a defined area[…]

As noted in the February issue’s major article on conveyor developments, Australian privately-owned conveyor OEM, NEPEAN Conveyors, has acquired Sandvik’s International Conveyor Components businesses and Sandvik’s Specialist Conveyor Systems business in Hollola, Finland. NEPEAN Chief Executive Officer, Miles Fuller, says the acquisition is a great fit with the organisation’s existing conveyor businesses. “NEPEAN now owns[…]

CRU reports that “the Chilean lithium industry has suffered from comparatively restrained growth predictions, with many suggesting the once largest producer could lag behind its global competitors. But with the new year comes a new hope: as the change in presidency signals reconciliation between SQM and CORFO, there are signs that both may be perfectly[…]