Mergers & Acquisitions - Copperbelt Katanga Mining

Shuka Minerals Advances Kabwe Zinc Mine Acquisition and Redevelopment

February 17, 2025February 17, 2025 Constance0 comment

AIM-listed Shuka Minerals is making significant progress toward acquiring and redeveloping the Kabwe zinc mine in Zambia, with a newly appointed board overseeing the process. In a corporate and operational update on February 14, CEO Richard Lloyd reaffirmed the company’s commitment to unlocking Kabwe’s full potential. He noted strong support from potential funders, with various financing options under consideration. However, he emphasized the need for well-structured budgeting and timelines to ensure the project’s success. Shuka’s planned acquisition of Zambian mining and exploration company Leopard Exploration and Mining (LEM) follows a… Read More Here

International Corporate News Mergers & Acquisitions

Glencore Explores Strategic M&A Opportunities Amid Industry Challenges

January 22, 2025January 22, 2025 Constance

LONDON – Mining and commodity trading giant Glencore has reaffirmed its openness to mergers and acquisitions (M&A) that enhance shareholder value, leveraging its position as one of the world’s top three copper producers. “As we have always said, M&A is something we are good at, and we are always open to transactions that are value-accretive for the company,” a Glencore spokesperson stated. In 2024, potential M&A activity dominated investor discussions within the mining sector. However, the challenges of integrating diversified producers were highlighted when BHP’s $49-billion bid for Anglo American… Read More Here

International Copper Mergers & Acquisitions Mining Personality

BHP CEO Mike Henry Foresees $250 Billion Copper Investment to Drive Industry Mergers

November 21, 2024November 21, 2024 Constance

Soaring demand for copper will require an estimated $250 billion of investment over the next decade, fueling further mergers in the industry, according to BHP Group Ltd. CEO Mike Henry. In a Bloomberg Television interview, Henry highlighted the increasing challenges in finding and developing new deposits of critical minerals, which are becoming more costly and technically complex to manage. “This suggests a trend toward consolidation, with companies that have scale, strong balance sheets, and deep technical expertise, like BHP, being well-positioned to lead in the decades ahead,” Henry stated. Copper… Read More Here

Mining in Zambia Copper Corporate News Mergers & Acquisitions

Mitsui & Co. Leads Bidding for First Quantum’s Zambian Copper Mines

November 21, 2024November 21, 2024 Constance

Japanese trading giant Mitsui & Co. has emerged as the top bidder for a stake in First Quantum Minerals Ltd.’s Zambian copper mines, outpacing a rival offer from Saudi Arabia’s state-backed Manara Minerals Investment Co., according to sources familiar with the matter. Mitsui’s bid is reportedly higher than Manara’s and involves acquiring roughly a 20% interest in First Quantum’s Sentinel and Kansanshi mines for approximately $2 billion. Negotiations between Mitsui and First Quantum are underway, though no final agreement has been reached, and other outcomes, including selling the stake to… Read More Here

Mining in Zambia Copper Mergers & Acquisitions

Saudi Arabia Nears Stake Acquisition in Zambian Copper Mine as Part of Mining Expansion

October 31, 2024October 31, 2024 Constance

Saudi Arabia is in the final stages of negotiating a stake in a Zambian copper mine, with expectations for a deal to close by year-end, according to Robert Wilt, CEO of Ma’aden, Saudi Arabia’s leading mining company. Speaking at the Future Investment Forum in Riyadh, Wilt indicated that discussions with the Zambian mine’s owners are progressing well. “We’re in advanced discussions with a company and a mine in Zambia, and we expect to finalize by year-end,” said Wilt, who also serves as vice chairman of Saudi Arabia’s international mining venture,… Read More Here

International Mergers & Acquisitions

BHP Shifts Focus After Rejected Anglo American Takeover Bid

October 30, 2024October 30, 2024 Constance

BHP has turned its attention to new growth prospects after Anglo American shareholders rejected its $49-billion takeover proposal earlier this year, the company’s Chairperson Ken MacKenzie confirmed on Wednesday. In May, BHP withdrew from its acquisition bid for Anglo after three failed attempts. With a six-month restriction on reapproaching Anglo soon to expire, there had been speculation that BHP might revisit the offer. “We saw a unique opportunity for synergy with Anglo American—an idea where one plus one equals three,” MacKenzie remarked at BHP’s annual meeting. “However, Anglo’s shareholders favored… Read More Here

Mining in Zambia Copper Mergers & Acquisitions Nickel

Saudi’s Manara Minerals Eyes Stake in First Quantum’s Zambian Mines

October 18, 2024October 18, 2024 Constance

Saudi Arabia’s Manara Minerals is close to finalizing a deal to acquire a minority stake in First Quantum Minerals’ Zambian copper and nickel assets, sources familiar with the matter told Reuters. Manara, a joint venture between Saudi mining company Ma’aden and the $925-billion Public Investment Fund, is in advanced discussions to purchase a 15% to 20% equity share in the Zambian operations. The stake is estimated to be worth between $1.5 billion and $2 billion. First Quantum’s sale of the stake is expected to be completed by year-end, though there… Read More Here

Mining in Zambia Battery Metals Copper Mergers & Acquisitions

Patriot Lithium Expands into Zambia with 80% Stake in Katwaro Copper Project

October 10, 2024October 10, 2024 Constance

Battery metals explorer, Patriot Lithium, has signed a binding option agreement to acquire an 80% stake in the Katwaro Copper Project, Zambia, from Array Metals and Natural Resources. This strategic move aims to diversify the company’s asset portfolio and expand its jurisdictional presence. The Katwaro Project, located near Mumbwa, spans 400 hectares and includes a historical open-pit mine with copper-bearing meta-sediments. Under the terms of the agreement, Patriot Lithium will pay Array Metals $25,000 (A$37,172) for an exclusive 12-month option period. If Patriot exercises the option, a special purpose vehicle… Read More Here

International Mergers & Acquisitions Uranium

Askari Metals Completes Full Acquisition of Eyasi Uranium Project in Tanzania

October 9, 2024October 9, 2024 Constance

Askari Metals has announced the full acquisition of the Eyasi Uranium Project in northern Tanzania through its subsidiary, Infinum Uranium. The project was identified as a highly prospective target for surface uranium deposits following an extensive review of geological and geophysical data. The Eyasi Uranium Project spans 292 km² and is located approximately 320 km northwest of Dodoma. The project’s geology is dominated by the Precambrian Eastern Granulite Complex and is associated with the East African Rift system. The region’s geological features suggest the presence of uraniferous fluvial channel systems,… Read More Here

International Equipment & Technology Mergers & Acquisitions

Sandvik to acquire Universal Field Robots

August 29, 2024August 29, 2024 Constance

Sandvik has signed an agreement to acquire Universal Field Robots (UFR), a fast-growing Australia-based provider of autonomous interoperable solutions for the surface mining and underground mining markets. UFR will be reported in Digital Mining Technologies, a division within business area Sandvik Mining and Rock Solutions. UFR’s solution portfolio is built on a common autonomy platform, which is a strong complement to Sandvik’s automation offering and includes OEM (Original Equipment Manufacturer) agnostic robotic and autonomous solutions for trucks, loaders and auxiliary equipment. The acquisition will help to increase the addressable market… Read More Here