ZCCM Investments Holdings Plc’s Post

New buyers offer N$5bn for Osino Resources, surpassing Dundee's N$4bn offer Osino Resources Corp. Resources Corp (Osino) says it has received a compelling proposal from an unnamed foreign mining company, surpassing Dundee Precious Metals' offer by over N$1 billion. Under the new proposal, Osino shareholders would receive C$1.90 for each common share, valuing the company at approximately N$5 billion (C$368 million). The development comes in the wake of Dundee Precious Metals Inc. (DPM)'s December definitive agreement to acquire Osino Resources for N$4 billion. DPM had offered C$0.775 in cash per Osino share along with 0.0801 of a DPM common share, implying a value of C$1.55 per Osino share and a total equity value of N$4 billion (C$287 million). Meanwhile, the premium offered by the new proposal, approximately 32% higher than the implied value of the consideration in the DPM Arrangement Agreement, underscores the enhanced value proposition presented by the foreign-based mining company. "Based on the closing price of the DPM common shares on the Toronto Stock Exchange as of February 16, 2024, the superior proposal represents a premium of approximately 32% to the implied value of the consideration offered pursuant to the DPM Arrangement Agreement and approximately 68% premium to the unaffected share price one trading day prior to the announcement of the DPM Arrangement Agreement," said Osino's President and CEO Heye Daun. https://lnkd.in/dh3TtTqq #namibia #goldmine #gold #mine #acqusition #investment Chamber of Mines Namibia Namibia Investment Promotion and Development Board (NIPDB) Tom Alweendo

MMG LIMITED EXPANDS ITS PORTFOLIO WITH ACQUISITION OF KHOEMACAU COPPER MINE IN BOTSWANA MMG Limited (HK.1208) has unveiled a pivotal move in the mining industry by finalizing a Share Purchase Agreement (SPA) to acquire the parent company of the esteemed Khoemacau Copper Mining in Botswana. This strategic acquisition comes with an effective Enterprise Value of US$ 1,875 million and marks a significant milestone in MMG’s pursuit of establishing a robust portfolio comprising top-tier mines catering to the needs of a decarbonized world. Khoemacau stands out as one of the premier new copper mines on a global scale, renowned for its exceptional quality. The transaction seamlessly aligns with MMG’s overarching strategy of curating a collection of high-caliber mines that supply minerals critical to a world transitioning towards sustainability... Read more on the link below; https://lnkd.in/daiGxPe5

**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

Codelco, Chile’s leading copper producer, is contemplating a $500 million acquisition of a 10% stake in Teck’s Quebrada Blanca copper mine, currently held by state mining firm Enami. This move, aligns strategically for both entities: Codelco would gain a significant, long-term copper asset, while Enami could enhance its financial stability and partially fund a new smelter. Despite Enami's minority, non-dilutable stake in Quebrada Blanca, it retains unique advantages, such as preferred dividends without the obligation to finance capital expenditures. Enami, which suffered a $200 million loss in 2023, views this transaction as a potential relief from its financial difficulties, exacerbated by the halted Paipote smelter. The Quebrada Blanca mine, a major low-cost copper operation in northern Chile, has seen production soar, primarily due to the QB2 expansion. Codelco's history of successful alliances and ventures, including copper and lithium projects, underlines its strategic expansion efforts, exemplified by its recent acquisition of Lithium Power International.

MetalsGrove Mining Ltd (ASX:MGA) has completed an entitlement offer, which was fully subscribed with applications received for more than 52.7 million shares to raise $2.1 million before costs. Shareholders were offered one fully paid ordinary share for every share held at a price of $0.04 per new share. Participants were also offered one free attaching option with an exercise price of $0.12, expiring three years from their issue date. The funds will go to various exploration programs across the company’s assets while also offering opportunities for further potential acquisitions. MetalsGrove is focused on exploring its portfolio of #lithium projects in Zimbabwe as well as multi-metal projects including rare earth, copper-gold, #manganese and base metal assets in Western Australia and the Northern Territory. More at #Proactive #ProactiveInvestors #RareEarthElements #Copper #Gold http://ow.ly/bVTy105uwI2

Good Economy..,

Canadian mining company Barrick Gold Corporation is currently in discussions with the International Finance Corporation and other entities to secure a minimum of $2 billion for the initial phase of the Reko Diq copper project in Pakistan, according to CEO in an interview. Bristow is optimistic about the prospects of developing the Reko Diq copper project, in which Barrick Gold holds a 50 percent stake. The first phase of the project is estimated to require an investment of $5.5 billion. Reko Diq is recognized as one of the largest undeveloped copper mines globally and is jointly owned by the government of Pakistan, which also holds a 50 percent stake. Saudi Arabia has expressed interest in acquiring a portion of the stake from the Pakistani government. Barrick Gold had previously indicated its willingness to involve Saudi Arabia's Public Investment Fund as one of its partners in the Reko Diq project. Bristow clarified that Barrick Gold does not intend to reduce its equity in the project. However, he stated that Barrick would not object if the Public Investment Fund of Saudi Arabia sought to purchase the equity held by the Pakistani government. Regarding recent developments in the mining sector, Bristow confirmed that Barrick Gold is not pursuing a bid for Anglo American, despite BHP's proposed acquisition of Anglo American, which was rejected by the latter. Barrick Gold remains focused on developing its own copper portfolio and is not interested in participating in bidding wars for other mining companies. #Rekodiq #Barrickgold #Mining #Pakistan

🚨 Big news in the mining industry! BHP Group has proposed an all-share takeover of rival Anglo American, valuing the company at a staggering £31.1 billion ($38.9 billion). This move sent Anglo American shares soaring by over 16% in a single trading session. The proposal includes divestments by Anglo American of its stakes in South Africa-based Anglo American Platinum Limited and Kumba Iron Ore Limited. BHP's offer, if accepted, would see Anglo American shareholders receiving 0.7097 BHP shares per Anglo American share. This potential combination would create a powerhouse in copper mining, with projections suggesting it could supply up to 10% of global output. With copper playing a pivotal role in the energy transition, firms like BHP are strategically positioning themselves to capitalize on future growth opportunities. Exciting times ahead as the mining industry gears up for potential transformations! Click to read : https://lnkd.in/dGMtdjB9 💰⛏️ #MiningNews #TakeoverOffer #CopperMining

Orezone secures $105 million funding for Bomboré mine expansion Orezone Gold (TSX: ORE) has secured $105 million in funding commitments for the second-phased expansion of its flagship Bomboré gold mine in Burkina Faso, which achieved commercial production in late 2022. The funding comprises a $58 million three-year loan from Coris Bank International, its current senior lender, and a $47 million private placement with Nioko Resources, a strategic investor in the company, who will purchase approximately 92.7 million shares of Orezone at C$0.70 each. By 11:00 a.m. ET, Orezone Gold’s stock traded at C$0.68 apiece on the TSX, for an intraday gain of 3.0%. Its market capitalization is estimated at C$249.8 million ($183.5 million). With this financing, the Canadian gold miner said the Phase II hard rock expansion at Bomboré is now fully funded, and its construction has been approved by its board of directors. The Bomboré mine is currently producing from the Phase I oxide plant at an above-nameplate capacity of 5.9 million tonnes per annum (Mtpa). In October 2023, Orezone released a feasibility study for an expansion that incorporates a 4.4 Mtpa hard-rock plant to boost the total processing rate of 10.3 Mtpa. The new standalone processing facility will enable Bomboré to produce significantly more gold at a lower incremental capital cost. The company estimates that its annual gold production will increase to over 170,000 oz. in 2026, an approximate 50% increase from current levels. For additional reading, please see https://lnkd.in/dBNfDs4z #cowaninternational #recruitment #mining #gateway4opportunity