The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 1 - 23 of 23
Buyout will bring Johnson Tract into Contango Ore's pipeline of high-quality Alaska gold mine projects. In a deal that brings three high-quality Alaska gold projects into a single portfolio, Contango ORE Inc. has entered into a definitive agreement to acquire HighGold Mining Inc. in an all-shares deal valued at roughly $37 million (C$55 million). "The combination of HighGold and Contango makes a tremendous amount of strategic sense for both sets of shareholders – it is a t...
World's top gold mining company adds two Golden Triangle mines to its two large gold-copper projects in Northern BC. In a historic deal that adds to Newmont Corp.'s position as the world's largest gold producer while also substantially boosting its production of the copper needed for the energy transition, the Colorado-based mining company has completed the roughly US$19 billion buyout of Newcrest Mining Ltd. "Today marks a historic milestone in our company and the industry...
Teck to receive a total of $8.2B for coal assets in Southern BC; cash infusion to bolster focus on clean energy metals. In a deal that finds a middle ground between the ambitions and future visions of two mining companies, Teck Resources Ltd. has agreed to sell its steelmaking coal assets in Southern British Columbia to Glencore for around US$6.9 billion. "This sale will ensure Teck is well-capitalized and able to realize value from our base metals business and deliver strong...
In a sudden and surprising announcement, Victoria Gold Corp. Sept. 14 announced the acquisition of Sabre Gold Mines Corp.'s Yukon assets, which include the past producing Brewery Creek gold mine property held by subsidiary Golden Predator Mining Corp., as well as the Golden Dome and Grew Creek exploration properties. "With the acquisition of Sabre's Yukon assets, we are pleased to be expanding our footprint and asset base in our own backyard," said McConnell. "With our track...
Benchmark Metals Inc. and Thesis Gold Inc. have completed a merger that brings together two large gold projects in Northern British Columbia's Toodoggone Mining District and the teams behind their success. "This merger has given rise to an expansive district-scale development and exploration endeavors, characterized by remarkable potential for growth," said Ewan Webster, president and CEO of the new Thesis Gold. The most advanced of the projects in the merged portfolio is Lawy...
With the acquisition finalized, major invests in spin-out, leaving all parties satisfied. After weeks of deliberation, Hecla Mining Company has finalized the acquisition of ATAC Resources Ltd. and the company's previously owned Rackla and Connaught properties in Yukon, Canada. "With the ATAC acquisition, we continue to execute our strategy of acquiring large land packages with significant exploration potential in favorable mining jurisdictions," said Hecla Mining President and...
Burgundy Diamond Mines Ltd. has finalized its acquisition of the Ekati diamond mine in Canada's Northwest Territories, adding another precious stone mine to its portfolio. Already a 40% partner with North Arrow Minerals Inc. at the Naujaat diamond project in Nunavut, Burgundy closed a transaction on July 4 that provides the Australian diamond company full ownership of the world-class Ekati Mine, which will significantly elevate Burgundy's efforts to deliver high-end cut and...
Combination will consolidate two high-grade gold-silver projects in BC's Toodoggone Mining District. In a move that will merge two large gold projects in Northern British Columbia's Toodoggone Mining District, Benchmark Metals Inc. has entered into a deal to buy out Thesis Gold Inc. "The merger of Benchmark and Thesis will create a district-scale development and exploration project with significant growth potential," said Thesis Gold President and CEO Ewan Webster. The most...
Merged company will hold several world-class gold, copper assets in Northern BC's Golden Triangle. In a deal that will bring together several world-class copper and gold projects in British Columbia's Golden Triangle, Newmont Corp. and Newcrest Mining Ltd. have agreed upon a merger worth A$28.8 billion (US$19.3 billion) to Newcrest shareholders. "The combination of Newmont and Newcrest represents an exceptional value proposition for shareholders and other stakeholders," said N...
New $19.6 billion proposal deemed fair by Newcrest board; companies advance one step closer to merger. With a new US$19.6 billion (A$29.4 billion) offer, Newmont Corp. is one step closer to completing a merger with Newcrest Mining Ltd. For Newmont, which is already the world's largest gold mining company, the proposed combination with Newcrest would add gold and copper production from mines in Australia, Canada, and Papua New Guinea. In February, it was revealed that Newmont...
After $8.2 billion cash offer for coal assets, Teck calls Glencore's merger bid a non-starter. Despite an $8.2 billion cash sweetener, Teck Resources Ltd.'s board of directors is holding steadfast to its position that Glencore's aggressive bid to buy out the Canadian miner is a non-starter. "Glencore has made two opportunistic and unrealistic proposals that would transfer significant value to Glencore at the expense of Teck shareholders," Teck Resources Chair Sheila Murray...
Offers $8.2 billion for BC coal assets ahead of a merger that provides Teck shareholders 24% stake in MetalCo. Teck Resources Ltd. continues to rebuff an increasingly aggressive buyout bid by Glencore, which hopes to merge with the Canadian mining company and then create two new companies that would advance the coal and metals assets resulting from the combined portfolio. This plan to create separate coal and metal mining companies is a continuation of a demerger strategy set...
World's top miner proposes merger, demerger to form world's top metals and coal mining companies. Merger and acquisition activity continues in the North of 60 Mining News area with Glencore's unsolicited US$22.5 billion (C$30.3 billion) all shares offer to merge with Teck Resources Ltd., which owns the Red Dog zinc mine in Alaska and interest in several advanced copper exploration projects in Northern British Columbia. On April 3, Teck announced that the world's largest...
Glencore says it is willing to cut a deal directly with shareholders if a planned split of Teck's metal, coal assets is stopped. With Teck Resources Ltd.'s board of directors and management refusing to consider its roughly US$22.5 billion (C$30.3 billion) merger proposal, Glencore is taking its increasingly aggressive takeover bid directly to the diversified Canadian mining company's shareholders. "Glencore is willing to make an offer directly to Teck shareholders if the...
Just hours before shareholder vote, Teck pulls its plan to split company; leaves door open for Glencore to pursue takeover. On the dawn of its annual shareholder meeting, Teck Resources Ltd. removed a pivotal proposal to split the iconic Canadian mining company into a base metals-focused company to be rebranded as Teck Metals Corp. and a metallurgical coal company to be named Elk Valley Resources Ltd. Shareholder approval of this split would have likely put to rest an...
Looking to add a high-quality, development-stage gold mine project in Canada to its portfolio, B2Gold Corp. has made a roughly C$1.1 billion (US$820 million) offer to buy out Sabina Gold & Silver Corp., owner of the Back River gold project in Nunavut. Back River is a district-scale project that includes five claim blocks along an 80-kilometer (50 miles) belt in the Kitikmeot region of western Nunavut. In September, Sabina's board officially approved the development of a...
Proposed merger could have major implications for several mining projects in BC's Golden Triangle. Over the weekend, Newcrest Mining Ltd. and Newmont Corp. confirmed rumors of a proposed merger that has major implications for the future of mining in British Columbia's Golden Triangle. "We believe a combination of Newmont and Newcrest presents a powerful value proposition to our respective shareholders, workforce and the communities in which we operate," said Newmont President...
Over a month ago, ATAC Resources Ltd. received a surprise proposal from Yukon neighbor Victoria Gold Corp. to acquire 100% of its shares. Feeling the offer inadequate, the Yukon and British Columbia-focused mineral exploration company declined. Victoria, which believes its offer to be more than fair, brought the deal public on Feb. 13 and declared a notice of expiry for ATAC to reconsider the offer before the week is out. ATAC is best known for its Rackla Gold property, a...
ATAC Resources Ltd. and Hecla Mining Company Feb. 21 announced the mutual entering of a non-binding letter of intent for Hecla to acquire all issued and outstanding shares of ATAC. Less than a week after facing pressure from Victoria Gold Corp. for its own bid to acquire ATAC, the company has chosen what it views as a more valuable transaction. You can read about Victoria Gold's bid for ATAC at Victoria presses ATAC for acquisition in the February 17, 2023 edition of North of...
Under a deal announced on Aug. 15, American Pacific Mining Corp. will gain 44.9% ownership of the Palmer zinc-copper-silver-gold-barite mine project in Southeast Alaska through the acquisition of Constantine Metal Resources Ltd. Being advanced under a joint venture between Constantine and Dowa Metals & Mining Alaska Ltd., Palmer hosts 4.68 million metric tons of indicated resource averaging 5.23% (539 million pounds) zinc, 1.49% (154 million lb) copper, 30.8 grams per metric t...
In a deal that bolsters certainty for the future of the Diavik Mine and Northwest Territories' economy, Rio Tinto has acquired full ownership of this iconic diamond operation in Canada's Arctic. Rio Tinto's 40% partner in Diavik, Dominion Diamond Mines, filed for insolvency protection under the Canadian Companies' Creditors Arrangement Act at the height of the COVID pandemic in 2020. "The CCAA filing was necessitated primarily by the impact of the COVID-19 pandemic," Dominion...
In a bid to add the Brucejack Mine to its operations in British Columbia's Golden Triangle, Newcrest Mining Ltd. has entered into an agreement to pay roughly C$3.5 billion (US$2.8 billion) to acquire Pretium Resources Inc. "We are delighted to be expanding our presence in this highly prospective region in British Columbia," said Newcrest Mining CEO Sandeep Biswas. "Brucejack is a tier one mine in a tier one jurisdiction and will deliver immediate production, free cash flow...
Agnico Eagle Mines Ltd. and Kirkland Lake Gold Ltd. have announced plans to merge into a major mining company slated to produce 3.4 million ounces of gold this year. With similar market capitalizations and gold production profiles in Canada and other politically stable jurisdictions, the deal is considered a merger of equals that would create a company with a market cap of around US$23 million based on a slight drop in share prices of both companies following the merger announ...
