Latest Deals

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The Australian Government has blocked the takeover of a lithium miner by a company with links to China, after advice from its Foreign Investment Review Board. Treasurer Jim Chalmers issued a prohibition stopping Austroid Corporation from acquiring an additional 90.1% stake in lithium miner Alita Resources, which would have made it a full owner of the enterprise. Mike Que, director of Austroid, is the son of Que Wenbin, who has a major interest in Chinese lithium battery maker Sichuan Western Resource.

Australian miner Nickel Industries has called an Extraordinary General Meeting (EGM) seeking a share deal with PT Danusa Tambang Nusantara (DTN). The company wants shareholder approval for the placement of 857 million shares at A$1.10 per share, equivalent to A$943m ($620m) of investment. 

Rio Tinto has purchased a 15% stake in Sovereign Metals for A$40.4m ($27.61m). Rio Tinto will maintain the option to increase its shareholding by 4.99% within 12 months. This would mean a potential further investment into Sovereign of A$18.5m. 

Australian mineral-focused investment firm Wyloo Metals has announced the purchase of fellow Australian mining company Mincor Resources. The A$760m ($509.41m) deal sees Wyloo purchase 90.87% of Mincor shares. The initial bid was placed by Wyloo in March, with Wyloo holding 19.9% of Mincor prior to the bid.