In a notable industry move, the Krasnoyarsk Non-Ferrous Metals Plant, known as Krastsvetmet, has successfully acquired the Russian division of ThyssenKrupp Industrial Solutions (RUS), based in Dzerzhinsk, Nizhny Novgorod region. This acquisition from the German conglomerate was confirmed through an announcement on the company’s website, marking a significant step in Krastsvetmet’s expansion strategy. While the financial details of the transaction...
Deals news
Newmont Seeks to Divest Six Mines and Two Projects
Newmont is looking to offload six mines and two development projects, aiming to generate $2 billion. Among the assets for sale are the Akyem mines in Ghana, highlighting a strategic move to streamline its operations following the acquisition of Newcrest Mining Ltd. This acquisition, valued at roughly $15 billion, has further established Newmont as the preeminent gold producer worldwide. The...
Yintai Gold to Acquire Osino Resources for $272 Million
China’s Yintai Gold is set to acquire Osino Resources for a robust $272 million, marking a significant development in the mining sector. This acquisition comes as Osino Resources, recognized for its Twin Hills gold project in central Namibia, looks to accelerate the project’s development. Osino’s CEO, Heye Daun, expressed that Yintai’s all-cash offer of C$1.90 per common share represents a...
Alcoa Proposes $2.2 Billion Buyout of Joint Venture Partner Alumina
U.S.-based Alcoa has announced a $2.2 billion all-stock proposal to acquire its Australian joint venture partner, Alumina. This strategic move aims to consolidate Alcoa’s upstream operations and simplify its corporate structure, providing greater control over the Alcoa World Alumina and Chemicals (AWAC) venture. AWAC, a significant player in bauxite mining and alumina refining, operates across multiple continents including Australia, Brazil,...
Polymetal Agrees to Sell Russian Operations to Mangazeya Group for $3.69bn
Polymetal, a leading gold mining company, has announced an agreement to sell its Russian business to Mangazeya Plus, a subsidiary of Sergei Yanchukov’s Mangazeya Group. This move is part of Polymetal’s strategic reorientation in response to the challenging geopolitical landscape. Mangazeya Group, with interests in gold mining, gas, agro-industry, development, and venture investments, has a significant presence in the precious...
Indonesia and Vale Reach Agreement on Share Divestment Terms
Indonesia and Vale Base Metals have finalized their negotiations, reaching a preliminary agreement on the pricing for a share divestment plan involving Vale’s Indonesian unit. This development, confirmed by the Indonesian mining minister on Friday, marks a significant step towards fulfilling the regulatory requirements for extending Vale Indonesia’s mining operations beyond 2025. Under the terms of the agreement, Vale Canada,...
Royal Gold and Centerra Gold Announce Strategic Deal to Extend Life of Mount Milligan Mine
In a significant development for the mining industry, Royal Gold, through its subsidiary RGLD Gold AG, has finalized an agreement with Centerra Gold and its Thompson Creek Metals Company Inc. unit, aimed at extending the operational life of the Mount Milligan mine until 2035. This collaboration not only highlights the commitment of both companies to sustainable mining practices but also...
Capstone Copper Secures C$375 Million (USD 281.25 Million) in Funding Through Public Offering
Capstone Copper and Orion Fund, along with Orion Mine Finance Fund II LP and Orion Mine Finance (Master) Fund I-A LP, have announced a significant financial deal involving the sale of 59,520,000 common shares at a price of C$6.30 (USD 4.725) each, totaling C$374,976,000 (USD 281,232,000) in gross proceeds. This deal, orchestrated by a syndicate of underwriters led by RBC...
Glencore and True North Copper Forge Landmark Agreement to Boost Mt Isa Smelter
In a move that promises to revitalize the Mt Isa smelter, True North Copper (TNC) has entered into a significant offtake and toll-mining agreement with global mining giant Glencore. This partnership marks a pivotal development for the Cloncurry Copper Project (CCP), as Glencore commits to purchasing 100% of the copper produced, with provisions to toll treat up to one million...
Acron Holding Expands with Acquisition of Transcat Metallurgical Plant
Acron Holding, under the leadership of Pavel Morozov, has expanded its industrial and metallurgical portfolio with the recent acquisition of Transcat, a metallurgical plant in St. Petersburg. Specializing in the production of copper wire rod and contact wires, Transcat plays a strategic role in supplying its products to major cable plants in Russia and CIS countries. Notably, the plant produces...