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Anglo American’s office in Brisbane. Credit: Marlon Trottmann via

Anglo American declines BHP's revised takeover bid

Anglo American has dismissed a new £34bn ($42.7bn) buyout proposal from BHP, maintaining that the offer significantly undervalues the company and its future prospects. The Anglo board reiterated its concerns over the proposal's structure due to the uncertainty and risks involved in executing the required demergers. The new offer proposed Anglo American shareholders receive 0.8132 BHP shares for each share held, alongside shares in Anglo American Platinum and Kumba Iron Ore.

Buxton to acquire Matrix manganese project in Arizona

Buxton Resources has signed a binding earn-in agreement with Solution Metals to secure 100% ownership of the Matrix Manganese Project in , Arizona, US. Buxton will invest A$1m over two years to earn full ownership of 154 BLM Lode Mining Claims. It will issue A$150,000 worth of shares to Solution Metals and grant a 1.5% net smelter return royalty, with Buxton retaining the right of first refusal on this royalty.

Caprice signs option deal for 90% stake in Bantam project

Caprice Resources has entered a binding option deal with HJH Nominees to acquire a 90% interest in the Bantam project in the West Arunta region of Western Australia (WA). This acquisition positions Caprice Resources alongside WA1 Resources’ West Arunta project, which boasts the significant Luni NiobiumREE discovery. The Bantam Project’s proximity to the Luni NiobiumREE discovery is noteworthy, as WA1 Resources has seen its market capitalisation surpass A$1bn ($661.5m).

Source: Pharmaceutical Technology

De Grey launches A$600m equity raise to fund Hemi project

De Grey Mining has initiated an equity raise, aiming to secure A$600m for its Hemi gold project in Western Australia through a combination of a non-renounceable entitlement offer and an institutional placement. The raise will include a 1 for 7.95 pro rate entitlement offer to raise A$256.1m, including a A$174.2m institutional component and a A$82m retail component, and an institutional placement to garner A$343.9m.