Category: M&A trends

Teck Resources buys Goldcorp’s stake in Mexican copper-zinc project to become sole owner

Teck Resources, Canada’s largest diversified miner, is buying Goldcorp’s 21 per cent minority interest in the San Nicolás copper-zinc project located in Zacatecas, Mexico for $50 million. Once the deal is completed, expected to be in Q3 2017, Teck will be the sole owner of the San Nicolás project. Teck plans to make San Nicolás ...

Japan’s Sumitomo Metal becomes IAMGOLD partner in Canadian project

Japan’s Sumitomo Metal Mining Co. has become the official joint-venture partner of IAMGOLD Corp. The Canadian bullion producer has finished the sale of 30% of its interest in the Côté Gold Project, located in the Abitibi gold belt in Ontario. With the completion of the $195-million deal, IAMGOLD’s liquidity now exceeds $1 billion. The deal, ...

SNC-Lavalin takeover approved WS Atkins shareholders

WS Atkins shareholders have approved the company’s £2.1bn takeover by Canadian group SNC-Lavalin. It was announced in April that the two were in talks over a deal worth £20.80 per share. The offer, which is representative of a 35 per cent premium to Atkins’ undisturbed stock price was commended by the board of the FTSE ...

Brazil’s Vale embarks on major corporate governance reform plan

Shareholders of Brazil’s Vale SA, the world’s biggest iron ore producer, have just agreed to a major corporate governance reform plan, in a move which is widely expected to boost the company’s market capitalisation. The plan, which will see Vale’s preferred shares converted into common stock, is designed to improve transparency, limit government interference, and ...

South Korean consortium outbids Liberty House on Arrium deal

After a nine-month sales process, a South Korean private equity consortium, led by Newlake Alliance and JB Asset Management, has been named as the preferred bidder for steelmaker Arrium. The Australian steelmaker is currently in administration and is being managed by KordaMentha, who also considered a rival bid for the asset from Liberty House, the ...

Merger and acquisition on First Cobalt’s agenda

Toronto-based First Cobalt wants “to create one of the largest cobalt exploration companies in the world,” in Ontario, Canada.

‘Auspicious’ time for M&A, yet difficult to secure capital – mining survey

Original article by Henry Lazenby on Mining Weekly There is a clear indication that mergers and acquisitions (M&A) activity among smaller players in the mining sector will increase this year, while the majors will increase divestitures to focus on core commodities. This will, in turn, benefit some of the midtiers that are able to make ...

Osisko Gold Royalty stock soars as company signs ‘transformational’ $1.13B deal to buy U.S. assets

Montreal-based Osisko Gold Royalties Ltd. said it is more than doubling its precious metals portfolio with the $1.13 billion acquisition of diamond, gold and silver assets from U.S. private equity firm Orion Mine Finance Group. Osisko has been seeking out such a “transformational” acquisition since the company formed three years ago, said CEO Sean Roosen. ...

Orion Mine Finance Group sells off precious metals portfolio to Osisko Gold

A cash-cum-stock deal worth USD $840m has been struck between Orion Mine Finance Group and Osisko Gold, in which Canada-based Osisko will acquire Orion’s precious metals portfolio. Osisko will pay $334m worth of shares and $501m in cash to Orion’s stakeholders in exchange for the portfolio of 61 royalties, six streams and seven precious metal ...

Pacton Gold signs option agreement for mineral assets in Red Lake, Canada

Pacton Gold has signed an option agreement with Frontline Gold to acquire a 100% interest in three minteral assets in the Red Lake mining district of north-western Ontario. Pacton says that the area is home to some of the richest gold deposits in the world, producing over 25 million ounces from high-grade zones. The three ...