Geoff McNamara’s Post

"Melbourne-based BHP... said it was teaming up with Canada’s Lundin Mining Corporation to jointly buy Vancouver-based #copper development company Filo [which] owns the Filo del Sol copper, #gold and #silver project, which straddles the high mountains of #Argentina and #Chile. As part of the transaction, BHP plans to take a 50-per-cent stake in Lundin’s nearby Josemaria project and create a joint venture that will hold both sites... [Canada's] Industry Minister... tightened the rules for foreign acquisitions of 'important Canadian #mining companies engaged in significant critical minerals operations,' saying he would only allow such deals to pass a net benefit test under the most exceptional circumstances... 'Unlike #nationalsecurity, where the government’s been quite clear that it’s #China and #SOEs that are really the main focus, they are not restricting this to any particular jurisdiction or any particular type of investment... so that can even include our allies – U.S., #Australia...'” #InvestmentCanada #EVs Pilot Law LLP

Highland Gold plans series of restructurings under presidential decree Earlier, Russian President Vladimir Putin signed a special order that authorizes a transaction to acquire 100% of the shares of the international company Highland Gold, owned by Highland Gold Mining Limited MOSCOW/ Highland Gold group planned a number of intra-group restructurings that fall under the regulation of the decree of the Russian President, the company’s press service told TASS. "The group was planning a number of intra-group restructurings under the regulation of Presidential Decree No. 520," the press service said, answering a question about why the company needed the president’s permission to acquire 100% of the shares of the international company Highland Gold, owned by Highland Gold Mining Limited. Earlier, Russian President Vladimir Putin signed a special order that authorizes a transaction to acquire 100% of the shares of the international company Highland Gold, owned by Highland Gold Mining Limited. By decree of August 5, 2022, Putin banned a number of transactions relating to the participation of foreigners from unfriendly countries in Russian companies. The restriction applies to deals with securities of Russian companies owned by them, including the fuel and energy complex and production sharing agreements. Transactions are possible only with special permission. #business #finance #financialservices

Tribeca Investment Partners Global Natural Resources head Ben Cleary at The Australian Financial Review Mining Summit in Perth yesterday talking about where we are in the commodity cycle, making the case that BHP’s bid for Anglo American shows we are in a ‘cheaper to buy than build’ phase for commodities like copper. “The extraordinarily long gestation periods for new mines, and the ever-increasing costs of building them – Cleary says BHP’s giant Escondida copper mine in Chile would cost about $25 billion to build today – means there is a clear preference for miners to buy assets rather than build them. It’s why Cleary believes we are about to enter the era of the “disappearing resources sector” where big deals become more common – and big multiples will be required to close them. “I think you’re going to see more deals because that fits into the buy-over-build strategy,” he says.”   #mining #copper #invest

Big changes ahead across the the whole resources sector and in particular diamonds.

**BHP walks away from proposed $49bn takeover of Anglo American** - BHP's primary interest in targeting Anglo American was its #copper mines, aiming to secure a leading position in the growing #battery metals market and achieve about 10% of global copper production. - A successful deal would have made BHP the world's largest copper producer, significantly boosting its presence in top copper-producing countries, Chile and Peru, and reshaping the mining industry. - Anglo American plans to retain its copper and iron ore assets while reducing investments in its #Woodsmith fertilizer project, seeking strategic investors for full-scale operations by 2026. - #BHP made concessions to #Anglo, including maintaining Anglo's Johannesburg office, listing BHP shares in South Africa, and supporting increased South African employee ownership, with all measures upheld for at least three years post-takeover. #mining #mineralexploration #mineralprocessing https://lnkd.in/g_v9qms6

BREAKING M&A DEAL: BHP proposes £31bn takeover of Anglo American in mining mega-deal ⛏ London-listed miner Anglo American, said on Thursday it had received an all-share buyout proposal from BHP Group, a deal that would create the world's biggest copper miner churning out around 10% of global output. BHP said its offer valued each Anglo share at £25.08. Anglo shares rose 13% to £24.89 in early trading in London. The deal, if agreed, would give BHP access to more copper, one of the most sought-after metals for the clean energy transition, and potash, which are its key strategic commodities, as well as more coking coal in Australia. Jefferies analysts said it could take a premium of around 28% above Anglo's most recent share price to get the deal across the line, adding the increased copper market concentration could raise antitrust concerns. If the deal is completed, it would likely be among the 10 biggest-ever mining deals by value and has the potential to delist Anglo from the London market. Sources: Reuters / Guardian #Mining #Commodities #MergersandAcquisitions #Deals

Canadian 🇨🇦 Mining ⛏️News Avante Mining Corp. (TSXV: AVA) Announces Name Change, New Ticker Symbol and Investor Relations Agreement Adrian Smith, CEO, commented, “We are excited to announce our name change to First Atlantic Nickel Corp. This new name better aligns with our team’s vision and underscores our exploration focus and direction as a company. With the rising demand for nickel due to the clean energy transition, the Company is focused on acquiring and developing assets with significant growth potential to meet this future demand. The U.S. has underscored nickel’s essential role by including it in its critical mineral list. Similarly, Canada has signaled its intent to prioritize the development of critical minerals in the coming years, highlighting the pressing need for further development of domestic resources and we look forward to the Company being part of the story to meet this demand.” 📈 TSX-V: AVA - OTC: ACPRF 📈 #Nickel #Exploration #Newfoundland #Labrador #Canada #Nickelmining #Basemetals #CriticalMinerals #BatteryMetals #Miningstocks #Nickelstocks #Stockstowatch #Smallcapstocks #Stockmarketinvesting #Investments #Investors #Nickelinvestment #TSXV #Stocks #Resource #Investing #Juniormining #AVA #FAN To learn more please visit ⬇️ https://lnkd.in/gwRrPk59

Big changes on the mining industry🚀 The recent bid from bhp to acquire Anglo American, along with Elliott Management's stake in Anglo shares, has initiated speculation about the future of the 107-year-old mining company. Anglo still holds valuable assets, specially in copper and high-grade iron ore, crucial for the green-energy transition. This makes us realise the commitment that large companies are currently making to energy efficiency, which we have been seeking for years. On the operational landscape, inefficiencies and distractions have obstructed Anglo's performance compared to competitors like bhp and Rio Tinto. Delays in project permits and rising costs have impacted its copper and iron ore production, rising a unique opportunity for competitors such as Antofagasta and Barrick Gold to earn a bigger share in the market. Despite rejecting bhp's initial bid, Anglo's market capitalization has surged, indicating market anticipation of a higher offer. A potential acquisition of Anglo could reshape the industry landscape. Source: https://lnkd.in/dUKCq7QF

🇦🇺 🇬🇧 1. "Why Anglo rejected BHP’s third takeover offer" ⛏ 2. "Anglo American rejects third BHP takeover bid, leaving Queensland coal miners in limbo" Anglo American has rejected another takeover offer from BHP, marking the Big Australian’s third attempt at acquiring the company. The latest offer, put forward on May 20, valued each Anglo share at 0.8860 BHP shares, up from the 0.8132 BHP shares proposed on May 13 and 0.7097 BHP shares proposed on April 25..... 👉 1st Article: https://lnkd.in/eiEtkdPd "Anglo American rejects third BHP takeover bid, leaving Queensland coal miners in limbo" 👉 2nd Article: https://lnkd.in/eG5nbYm3 🌍 TA RawMaterials: https://lnkd.in/d_Np2KpZ (supported by EIT RawMaterials) #copper #coal #bhp #criticalminerals #ironore #angloamerican #mining #queensland

Barrick Gold Signals Interest in Cobre Panama Mine Partnership Marketscreener.com informs that Mark Bristow, CEO of Barrick Gold Corporation, has announced that the company is open to partnering in the Cobre Panama copper mine, pending the Panamanian government's decision on the asset’s future. This comes after the mine, currently owned by First Quantum Minerals, was shut down in November due to protests. With the new Panamanian administration under President Jose Raul Mulino Quintero set to determine the mine's fate next year, Barrick remains on standby as a potential partner. Bristow emphasized that the final decision rests with the Panamanian government, but Barrick is prepared to engage when the time comes. He stated: "At the end of the day, it is the Panamanian government that has to decide what it wants to do with this asset, and we of course, stand available to be considered as a potential partner sometime in the future".   As copper assets become increasingly sought-after, Barrick remains cautious about overpaying, despite recent copper price surges. The CEO of Barrick Gold said: "We always say, 'be careful about paying at the top of the market." Bristow also touched on the company's ongoing review of world-class copper and gold assets. He concluded that: "We have a strong balance sheet, we have no real debt, and we are Canadian. So that is also important,". The Barick's CEO looked at Teck Resources Limited but acknowledged that Teck's dual-class share structure could complicate any potential deals. According to Marketscreener.com “Teck has a dual-class share structure with multiple voting rights attached to its class-A common shares, the majority of which are controlled by Keevil and Sumitomo Corporation”. The Cobre Panama mining project accounts for 1% of global copper output and 5% of Panama's GDP. #mining, #miningindustry, #copper, #panama, #barrickgold