Magna Mining has successfully concluded a definitive offtake agreement with Vale Canada, a subsidiary of Vale Base Metals, concerning the advanced exploration segment of the Crean Hill Project. This collaboration underscores months of joint efforts and marks a significant milestone for Magna Mining’s development path. Under this agreement, the initial material produced will be sent to Vale’s Clarabelle mill facility...
Deals news
China Aluminum Group and Rio Tinto Group Explore Deeper Cooperation for Mutual Benefit
In a significant step towards bolstering bilateral cooperation, Duan Xiangdong, Chairman of China Aluminum Group (CHALCO), hosted a high-level meeting with Jakob Stausholm, Chief Executive Officer of Rio Tinto Group, at the CHALCO headquarters. The meeting, which also saw participation from Deputy General Managers of CHALIECO, Dong Jianxiong and Tian Yongzhong, along with key officials from Rio Tinto including Alf...
Emirates Global Aluminium Announces Acquisition of Leichtmetall
Emirates Global Aluminium (EGA), recognized as the world’s largest producer of ‘premium aluminium’, has officially announced its acquisition of Leichtmetall Aluminium Giesserei Hannover, a German firm specializing in aluminium recycling. This acquisition marks EGA’s first major strategic move since its formation through the merger of Dubai Aluminium and Emirates Aluminium a decade ago. Leichtmetall, known for its specialty foundry operations...
Narryer Metals Acquires Major Stake in Canadian Lithium-Tantalum Projects
Narryer Metals has announced a strategic deal to acquire a 70% stake in two promising lithium-tantalum projects, Big Hill and Fran, located in the Northwest Territories’ Yellowknife Lithium Province, Canada. This move marks a significant step in Narryer Metals’ expansion into the North American lithium market, with the projects situated in the mineral-rich Archean Slave Craton, known for its 50...
Alumina to Join Forces with Alcoa in a $3.3 Billion Deal
Alumina, an Australian powerhouse in bauxite and alumina production, has officially accepted a $3.3 billion all-scrip offer from its US joint venture partner, Alcoa. This strategic move is set to consolidate the ownership of the Alcoa World Alumina & Chemicals (AWAC) assets, further solidifying Alcoa’s status as a leading producer in the aluminium and bauxite industry on a global scale....
SQM and Hancock’s Joint Venture Advances Acquisition of Azure Minerals
Chilean mining giant SQM, in partnership with Hancock through their joint venture, SH Mining, is poised to acquire all shares of Azure Minerals. This strategic move follows approval from the Australian competition authority, signaling a green light for the operation. The board of Azure Minerals has unanimously endorsed the proposed transaction, contingent upon no superior offer emerging and an independent...
Xiamen Tungsten to Acquire Major Stake in Laos Mining Company
Xiamen Tungsten has announced that its wholly-owned subsidiary, CHIXIA Laos Holdings, is set to acquire a 90% stake in China Investment (Laos) Mining for a total of US$18,963,000. The deal, which involves a combination of cash and debt arrangements, includes US$6,276,500 for equity transfer and US$12,686,500 to repay loans from related parties to CIC Land. CIC Land, a company established...
Amur Minerals Advances Toward Reverse Takeover in Healthcare Sector
Amur Minerals has recently announced its status as an AIM Rule 15 cash shell and is making progress toward completing a Reverse Takeover (RTO), a strategic move aligning with AIM Rule 14. On January 25, 2024, Amur entered into a preliminary agreement to acquire a UK-based pharmaceutical company, identified as the Target. This company has innovated a drug delivery technology...
Vale Indonesia Intensifies Efforts on $9 Billion Nickel Downstream Projects
PT Vale Indonesia Tbk (INCO), following the divestment of 14% of its shares to the Indonesian Mining Industry Holding MIND ID, is set to expedite the development of three significant nickel downstream projects, totaling an investment of up to US$ 9 billion. The divestment deal, which saw MIND ID investing approximately US$ 300 million, will increase its stake in INCO...
Sumitomo Metal Mining Adjusts Stake in PT Vale Indonesia Amid Investment Regulation Changes
In a strategic move prompted by investment restrictions, Sumitomo Metal Mining Co., Ltd., along with Vale Canada, has announced the partial divestiture of their holdings in PT Vale Indonesia (PTVI), a key player in the Indonesian nickel exploration and smelting sector. This decision aims to comply with the Indonesian government’s mandate that a majority of PTVI’s ownership be held by...