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Alacer Gold wins Supreme Court approval for merger with SSR Mining

Alacer Gold has received approval from the Supreme Court of Yukon for its previously announced merger with Canadian precious metals producer SSR Mining in a deal valued at C$2.41bn ($1.72bn).

The latest move comes pursuant to a plan of arrangement under section 195 of the Business Corporations Act (Yukon).

As per the terms of the merger, Alacer Gold shareholders will receive 0.3246 shares of SSR Mining for each Alacer Gold share held.

Each of the companies also received all necessary shareholder approvals earlier in connection with the acquisition at their respective special shareholder meetings. 

SSR Mining initially signed a definitive agreement to acquire Alacer Gold in May this year. The completion of the deal is subject to obtaining certain regulatory approvals as well as satisfaction of other customary closing conditions.

Once the transaction concludes, SSR Mining and Alacer Gold shareholders will collectively own a 57% and 43% stake in the combined entity, respectively.

The new entity will be headquartered in Denver, Colorado and continue to operate as SSR Mining.

The merger between the companies is expected to create a diversified precious metals producer with assets spanning across four countries.

They include Alacer’s flagship Çöpler mine in Turkey, Marigold gold mine in Nevada, Seabee gold operations in Saskatchewan, and the Puna operations in Jujuy, Argentina.

Sandvik and Exyn partner on autonomous mining solutions

Swedish equipment supplier Sandvik Mining and Rock Technology has formed a partnership with Exyn Technologies to advance autonomous mining capabilities.

As part of the new partnership, Sandvik is set to combine its digital mining expertise with Exyn’s proficiency in aerial robotics.

US rare earth miner to be listed on NYSE in $1.5bn deal

US rare earths miner MP Materials has announced that it will go public on the New York Stock Exchange (NYSE) by merging with Fortress Value Acquisition Corp. (FVAC), a special-purpose acquisition corporation, in a $1.47bn deal.

Kobe Steel, Vale and Mitsui partner on low-carbon steelmaking products

Brazilian miner Vale and Japanese firms Kobe Steel and Mitsui have signed a non-binding heads of agreement (HoA) on providing low-CO2 metallics and steelmaking solutions for the global steel industry.

The Brazilian miner noted that all the parties will establish a new venture to supply low greenhouse gases (GHG) solutions to the steel industry.

Epiroc and Vale finalise ‘Batteries as a Service’ deal

Brazilian mining major Vale and Swedish mining equipment manufacturer Epiroc have finalised their ‘Batteries as a Service (BaaS)’ agreement.

BaaS is a new approach for using battery technology across mining operations. Using this service, Epiroc monitors the batteries it installs to a mining operation in order to deliver predictive maintenance as well as reduced downtime.

Triple Flag signs agreement with CMOC for precious metal deliveries

Canada-based streaming company Triple Flag Precious Metals has signed a $550m streaming financing deal with China Molybdenum (CMOC) for future gold and silver production at the latter’s Northparkes mine.

Triple Flag Precious Metals signed the deal through its wholly-owned subsidiary Triple Flag Mining Finance Bermuda.

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