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Metarock to sell underground metals business to Thiess

Metarock Group has signed a binding agreement to divest its Australia-based PYBAR underground metals business to Thiess for a consideration of A$65m ($42.65m) on an enterprise value basis. All PYBAR employees, including the senior management team headed by CEO James Glover, will join Thiess. The transaction is expected to yield net cash proceeds of around A$36.3m for Metarock after accounting for PYBAR’s outstanding debt and estimated transaction costs. The PYBAR sale forms part of Metarock’s strategic plan to capitalise on a $2.2bn pipeline of growth opportunities.

Sibanye-Stillwater closes purchase of metals recycler Reldan

Sibanye-Stillwater has concluded a deal to buy the Reldan Group of Companies, a precious metals refiner headquartered in Pennsylvania, US. The deal, announced in November 2023, was finalised for a total cash consideration of $155.9m. Sibanye-Stillwater said the transaction complements its US platinum-group metals recycling operations in Montana. It hopes to boost its foothold in the circular economy.

Mineral Resources set to acquire WA nickel plant

Mineral Resources has signed a binding heads of agreement with Poseidon Nickel to acquire the Lake Johnston nickel concentrator plant and tenure in Western Australia (WA). This move forms part of the company’s strategy to develop a lithium processing hub in the southern Goldfields region to process lithium ores from its operations and third-party sources. Mineral Resources will pay a total of A$15 over several stages.

Source: Pharmaceutical Technology

Kinross enters deal to earn into Riley Gold’s Nevada project

Riley Gold has signed an exploration and venture option agreement with Kinross Gold for the PWC gold project in Nevada, US. The deal could see Kinross earn up to a 75% interest in the project, with a minimum investment of $20m. Kinross will take over as the operator of the project and can initially acquire a 60% interest by spending at least $10m on qualifying work expenditures.