MINEX Forum

Tag: Acquisition

  • Critical Metals Corp Advances Acquisition of European Lithium Limited

    Critical Metals Corp Advances Acquisition of European Lithium Limited

    Critical Metals Corp (Nasdaq: CRML), a prominent player in the critical minerals sector, has provided an update regarding its proposed acquisition of European Lithium Limited (ASX: EUR, FRA: PF8, OTC: EULIF). The acquisition aims to secure 100% of the issued share capital of European Lithium, alongside its listed options, through court-approved schemes of arrangement under the Australian Corporations Act 2001. This strategic move is designed to enhance Critical Metals’ portfolio and strengthen its position in the critical minerals market.

    The process commenced with the lodgement of a draft explanatory statement, known as the Scheme Booklet, with the Australian Securities and Investments Commission (ASIC) on August 26, 2026. This document is crucial as it will provide European Lithium’s securityholders with essential information regarding the proposed schemes. The first court hearing is set for September 15, 2026, where European Lithium will seek orders from the Supreme Court of Western Australia to convene meetings for shareholders and optionholders to consider and vote on the schemes.

    If the court grants the necessary approvals, the Scheme Meetings are expected to take place in mid-October 2026, followed by a general meeting of shareholders to discuss resolutions related to the schemes. The implementation of these schemes is anticipated for early November 2026, contingent upon the satisfaction of all conditions, including approvals from shareholders and the court.

    Mike Hanson, a board director at Critical Metals Corp, expressed optimism regarding the progress of the acquisition, highlighting the importance of the Scheme Booklet’s lodgement as a significant step forward. He noted that both companies are making steady progress towards the completion of the transaction, which aims to integrate European Lithium and its assets into the Critical Metals group.

    Critical Metals Corp is focused on developing critical minerals essential for electrification and next-generation technologies. Its flagship project, Tanbreez, located in Southern Greenland, is one of the largest rare earth deposits globally, with advantageous shipping access. Additionally, the Wolfsberg Lithium Project in Austria is poised to become a major producer of lithium products, further solidifying Critical Metals’ role as a key supplier in the European market.

    This acquisition aligns with the growing demand for critical minerals, driven by the clean energy transition and advancements in technology. As the mining industry continues to evolve, Critical Metals Corp is strategically positioning itself to meet the needs of the Western world, ensuring a reliable and sustainable supply of essential resources.

  • European Lithium Advances Proposed Acquisition by Critical Metals Corp.

    European Lithium Advances Proposed Acquisition by Critical Metals Corp.

    European Lithium (ASX:EUR) is making significant strides towards a proposed all-stock acquisition by Critical Metals Corp., which aims to merge European Lithium’s Wolfsberg Lithium Project in Austria with Critical Metals’ extensive critical-minerals portfolio. This acquisition could mark a pivotal shift for European Lithium, potentially ending its separate ASX-listed structure. Investors are now focused on the approval of the scheme, the completion of the transaction, and future project developments.

    The acquisition is structured under court-approved schemes of arrangement as outlined in Part 5.1 of Australia’s Corporations Act. This move is expected to simplify the existing corporate structure between the two companies. European Lithium had previously contributed its Wolfsberg Lithium Project to Critical Metals when the latter listed on Nasdaq, retaining a significant shareholding. The proposed scheme would allow European Lithium shareholders to directly receive shares in Critical Metals, leading to European Lithium’s exit from the ASX following the transaction’s implementation.

    On 19 August 2026, the transaction terms were amended to introduce a floating share exchange ratio linked to Critical Metals’ share price. Under this revised structure, European Lithium shareholders will receive a variable number of Critical Metals shares, depending on the company’s volume-weighted average price (VWAP). This ratio ranges from 0.045 shares per European Lithium share at a VWAP of US$8.00 or below, to 0.025 shares when the VWAP reaches US$16.00 or above. Critical Metals has indicated that this adjustment aims to balance the interests of both shareholder groups while mitigating the impact of short-term share-price fluctuations.

    The transaction is contingent upon shareholder and court approvals, alongside regulatory requirements and other customary conditions. European Lithium, currently a pre-revenue exploration and holding company, is primarily valued based on its project development activities and its investment position rather than operational income. The Wolfsberg Lithium Project is central to its valuation, especially in light of the proposed acquisition.

    Critical Metals has also been advancing funding initiatives for its Tanbreez rare-earth project in Greenland, which includes efforts towards project development financing and accelerated work programmes. For European Lithium shareholders, the future value will depend heavily on the performance of Critical Metals, the progress of the Wolfsberg project, and the successful completion of the acquisition.

    Management at Critical Metals views this acquisition as a strategic consolidation of critical-minerals assets under a single Nasdaq-listed platform. The combination of the Wolfsberg lithium project and the Tanbreez rare-earth project is seen as a significant step in enhancing operational capabilities and access to funding.

    Investor focus has shifted towards the execution of the transaction rather than merely the underlying commodity themes. The amended floating exchange ratio is crucial, as the final value for European Lithium shareholders will be influenced by Critical Metals’ share price leading up to the implementation. The muted market reaction following the amendment indicates that investors are carefully evaluating completion risks, valuation implications, and the overall outlook for the combined entity.

    Looking ahead, key milestones include the release of the scheme booklet and an independent expert report, followed by shareholder voting and court approval processes. The timeline for completion will depend on the satisfaction of transaction conditions and the successful progression of the proposed scheme. Beyond the merger, investors will keep a close eye on developments within Critical Metals’ portfolio, including advancements at Wolfsberg, financing initiatives for Tanbreez, and potential commercial partnerships. The performance of Critical Metals’ share price will remain a critical factor, as it directly affects the exchange ratio outcome.

    However, risks remain, particularly concerning the potential failure of the transaction, which requires shareholder and court approvals, as well as the satisfaction of other conditions. The floating exchange ratio introduces uncertainty, as the final consideration for European Lithium shareholders is tied to Critical Metals’ share price movements. Both companies are also exposed to developmental risks associated with early-stage critical-minerals projects, including permitting, financing, and execution challenges. Market conditions for commodities, particularly lithium prices, will play a significant role in shaping the outlook for the Wolfsberg project and influencing investor sentiment towards critical-minerals ventures.

    In summary, European Lithium is entering a crucial corporate phase with the proposed acquisition by Critical Metals, which could reshape its investment outlook. The key factors to watch include the approval of the scheme, the implications of the amended exchange ratio for shareholder value, and Critical Metals’ ability to advance its combined lithium and rare-earth portfolio successfully. Investors are now more focused on the future prospects of the broader Critical Metals platform rather than viewing European Lithium as a standalone entity.

  • China’s Zijin Mining Acquires Kazakhstan’s Gold Producer RG Gold

    China’s Zijin Mining Acquires Kazakhstan’s Gold Producer RG Gold

    Kazakhstan’s gold mining company RG Gold has officially been acquired by Zijin Gold International Co., Ltd., a subsidiary of Zijin Mining Group, one of the world’s leading mining corporations, Orda.kz reported.

    RG Gold operates the Raigorodok gold deposit in the Akmola region. The company had been managed by Kazakhstan’s Verny Capital Group since 2014, during which it underwent significant modernization — including new infrastructure, updated equipment, and expanded geological exploration.

    Since 2018, Verny Capital has developed RG Gold in partnership with the U.S.-based Resource Capital Funds (RCF). Under their management, the company’s resource base tripled over the past decade to reach 7.6 million ounces, in compliance with JORC standards.

    The partners also expanded the company’s production capacity. The Carbon-in-pulp (CIP) plant reached a throughput of 6.5 million tonnes per year by mid-2025, exceeding its design capacity of 5 million tonnes. The heap leaching facility has an additional capacity of 2 million tonnes per year.

    RG Gold currently employs around 1,200 people, making it one of the major employers in the Akmola region.

    The acquisition by Zijin Mining underscores the Chinese company’s growing footprint in Central Asia’s mining sector, following a series of strategic investments aimed at strengthening its global gold production portfolio.

  • USA Rare Earth Acquires UK’s Less Common Metals in $100M Deal to Accelerate Mine-to-Magnet Strategy

    USA Rare Earth Acquires UK’s Less Common Metals in $100M Deal to Accelerate Mine-to-Magnet Strategy

    USA Rare Earth (Nasdaq: USAR) announced it will acquire Less Common Metals (LCM), a UK-based producer of rare earth metals and alloys, in a $100 million cash-and-stock deal designed to accelerate its vertically integrated mine-to-magnet strategy.

    Under the terms of the agreement, USAR will pay $100 million in cash and issue 6.74 million common shares to complete the transaction. At the time of the announcement, USAR shares traded at $18.70, but have since climbed nearly 30% to $23.36, giving the company a market capitalization of $2.61 billion.

    LCM operates a 67,000-square-foot facility in Cheshire, England, and is one of the only companies outside China capable of producing both light and heavy rare earth permanent magnet metals and alloys at scale. Its product portfolio includes samarium, samarium cobalt, neodymium-praseodymium, dysprosium, terbium, yttrium, and gadolinium — all critical materials for defense, automotive, and renewable energy technologies.

    “The acquisition of LCM is a bold and transformative leap forward for our company and the domestic rare earth industry,” said Michael Blitzer, chairman of USA Rare Earth. “Midstream metal making is the linchpin of the global supply chain, and LCM is the only proven ex-China producer of rare earth metal, alloys, and strip casting at scale.”

    The acquisition comes as USA Rare Earth continues to develop a sintered neodymium magnet manufacturing facility in Stillwater, Oklahoma. The plant is expected to begin commercial production in the first half of 2026, with an annual capacity of 5,000 metric tons, or hundreds of millions of magnets.

    The facility will be supported by feedstock from the company’s Round Top deposit in West Texas, where USAR recently produced its first sample of dysprosium oxide, a heavy rare earth used in semiconductors, EV motors, wind turbines, and defense applications.

    Blitzer added that the USAR-LCM combination will re-establish rare earth metal production in the United States for the first time in decades, while also expanding LCM’s capabilities across the UK and Europe to strengthen the global supply chain outside China.

  • Dundee Precious Metals Shareholders Approve Adriatic Metals Acquisition and Corporate Rebranding

    Dundee Precious Metals Shareholders Approve Adriatic Metals Acquisition and Corporate Rebranding

    August 13, 2025

    Toronto, Canada – Dundee Precious Metals Inc. (TSX: DPM) has announced the results of its special meeting held on August 13, 2025, where shareholders overwhelmingly approved two key resolutions: the issuance of common shares in connection with the acquisition of Adriatic Metals plc and a name change for the company.

    Shareholder Approval for Acquisition and Name Change

    Shareholders voted to approve the issuance of DPM common shares as part of its proposed acquisition of Adriatic Metals plc, to be effected by a scheme of arrangement under Part 26 of the Companies Act. Additionally, shareholders approved an amendment to the company’s articles to change its name to “DPM Metals Inc.” or another name as approved by the board of directors, subject to regulatory approval.

    The voting results were as follows:

    Share Issuance: 121,852,918 votes in favor (99.73% of votes cast), 329,765 votes against (0.27%).
    Name Change: 125,346,665 votes in favor (99.81% of votes cast), 236,902 votes against (0.19%).
    A total of 122,182,683 shares were voted for the share issuance, representing approximately 73.19% of the issued and outstanding DPM shares. For the name change, 125,583,567 shares were voted, representing approximately 75.23% of the issued and outstanding DPM shares.

    Adriatic Shareholder Approval

    DPM also confirmed that Adriatic Metals plc has received the requisite shareholder approvals for the scheme of arrangement at its Court Meeting and General Meeting, both held earlier today.

    Next Steps and Completion of Acquisition

    The completion of the acquisition remains subject to the sanctioning of the scheme by the High Court of Justice in England and Wales, the delivery of a copy of the Court’s order to the Registrar of Companies in England and Wales, and the satisfaction or waiver of other conditions set out in the scheme document. The hearing for the Court’s sanction is currently scheduled for August 29, 2025. As announced by Adriatic, the scheme is expected to become effective on September 3, 2025.

  • Megado Minerals Secures Major Stake in Spain’s Iberian Copper Project

    Megado Minerals Secures Major Stake in Spain’s Iberian Copper Project

    Megado Minerals, an Australian mining company, has unveiled plans for a significant acquisition in northern Spain, aiming to acquire an 80% stake in the Iberian Copper Project. Covering 956 square kilometers, this expansive project includes 12 permits and houses at least 12 historic copper mines.

    The acquisition will proceed through a share swap agreement with Iberian Copper (ICPL) shareholders. In return for their stake, Megado will issue 175 million shares, 175 million Class A performance rights, and 175 million Class B performance rights. These performance rights are convertible into shares on a one-to-one basis, pending the achievement of key project-related milestones.

    Megado directors Anthony Hall and Aaron Bertolatti are non-controlling shareholders of ICPL, which may raise potential conflicts of interest; however, both directors are expected to recuse themselves from decisions directly affecting the acquisition.

    To finance the acquisition, Megado will initiate a non-renounceable rights issue, offering one share for every two shares held at A$0.012 per share. This rights issue could potentially raise A$1.53 million to support the acquisition and future developments.

    The deal marks a significant expansion for Megado in the copper sector, presenting strong growth potential if project milestones are met and as global copper demand continues to rise.

  • Denarius Metals to Acquire 100% of Europa Metals Iberia S.L. and the Toral Project in Spain

    Denarius Metals to Acquire 100% of Europa Metals Iberia S.L. and the Toral Project in Spain

    Denarius Metals Corp. announced today that it has signed a binding letter of intent (LOI) with Europa Metals Ltd. (AIM: EUZ) to acquire 100% of the issued and outstanding shares of Europa Metals Iberia S.L. (EMI), a subsidiary of Europa Metals. The Toral Zn-Pb-Ag Project, located in the Leon Province of Northern Spain, will become a key asset of Denarius Metals through this transaction. The closing is expected by October 31, 2024.

    Serafino Iacono, Executive Chairman and CEO of Denarius Metals, highlighted that the acquisition aligns with the company’s strategy to produce low-carbon metals within the European Union. The Toral Project, known for its potential as a long-life underground mining operation, could supply material to the company’s 5,000 tpd processing plant at the Aguablanca Project in Spain. An updated Mineral Resource estimate and preliminary economic assessment are expected later this year for the Toral Project.

    Denarius Metals has already invested US$3.1 million in exploration at the site through a loan agreement with Europa. As part of the exploration efforts, the company conducted 6,200 meters of drilling in 2023, which intersected mineralization within the Indicated Resource block. In 2023, Denarius also filed a formal mining license applicationfor the Toral Project.

    The purchase price for EMI will consist of the amounts advanced under the Loan Agreement and an additional CA$3.5 million in the form of 7,000,000 common shares issued at CA$0.50 per share. These shares will be subject to a four-month hold period. The Option Agreement and Loan Agreement will be terminated upon closing, and the deal is subject to board, shareholder, and regulatory approvals.

  • Granit Acquires Local Mining Company Lep-Kop Invest for 5,000 Euro

    Granit Acquires Local Mining Company Lep-Kop Invest for 5,000 Euro

    North Macedonia-based construction company Granit announced the acquisition of local mining company Lep-Kop Invest for 5,000 euro ($5,528). According to a statement filed with the bourse on Tuesday, Lep-Kop Invest specializes in the extraction of gravel, sand, clay, and kaolin.

    The acquisition was completed on September 2. On the same day, Granit’s shares were trading at an average price of 1,565 denars ($28.1/25.4 euro) on the Macedonian Stock Exchange, based on the latest available data.

    Granit, established in 1952 and privatized in 1996, focuses primarily on the construction and rehabilitation of roads. The company also operates several concrete and asphalt plants, along with stone quarries.

     

  • Yildirim Seeks Approval for Acquisition of Euronickel Industries Assets in North Macedonia

    Yildirim Seeks Approval for Acquisition of Euronickel Industries Assets in North Macedonia

    Yildirim, a Turkish holding company, has formally requested approval from North Macedonia’s Commission for Protection of Competition (CPC) to acquire assets belonging to Euronickel Industries, formerly known as Feni Industries. These assets, currently held by local lender Komercijalna Banka, include the ferronickel producer’s facilities. Additionally, Yildirim is eyeing the purchase of assets belonging to Nova Refractories, a refractory plant based in Pehcevo, also under the ownership of Komercijalna Banka. The CPC has announced that the public has a ten-day window to provide feedback on these proposed transactions. Kingmen Refractories and Double Eagle Nickel, both local subsidiaries of Yildirim specifically established for these acquisitions, have already inked agreements with Komercijalna Banka on March 22. This move comes after Komercijalna Banka disclosed in December its acquisition of Euronickel Industries’ assets worth 37.9 million euros ($41.2 million) through a forced collection of claims. The bank, being the primary creditor of Euronickel Industries, took possession of these assets as the ferronickel producer entered bankruptcy proceedings in early February.

  • Minister Clarifies Funding Source for Qarmet Acquisition Amidst Speculation

    Minister Clarifies Funding Source for Qarmet Acquisition Amidst Speculation

    Kanat Sharlapaev, Kazakhstan’s Minister of Industry and Construction, has addressed concerns regarding the acquisition of Qarmet (formerly known as “ArcelorMittal Temirtau,” AMT), stating that government funds were not utilized for purchasing Qarmet shares. Sharlapaev emphasized that the acquisition was financed entirely through private investments, dismissing speculations of state involvement. He underscored the commercial nature of the transaction, highlighting Qarmet’s significance as a major employer with an annual revenue exceeding $2 billion. The minister defended the financing approach, citing it as a standard business practice aimed at enhancing operations and environmental conditions in Temirtau.