Latest Deals
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Rio Tinto to acquire lithium miner Arcadium for $6.7bn
Rio Tinto has agreed to purchase Arcadium Lithium for approximately $6.7bn (A$9.9bn). Rio Tinto will pay $5.85 per share, a 90% premium to Arcadium’s closing price on 4 October. “Acquiring Arcadium Lithium is a significant step forward in Rio Tinto’s long-term strategy, creating a world-class lithium business alongside our leading aluminium and copper operations to supply materials needed for the energy transition,” said Jakob Stausholm, Rio Tinto’s CEO. The acquisition, expected to close mid-2025, would make Rio Tinto the world’s third-largest lithium producer after Albemarle and SQM.
BUMA Australia gets contract extension for Meandu mine
TEC Coal, a subsidiary of Stanwell, has selected BUMA Australia, a wholly owned subsidiary of PT Bukit Makmur Mandiri Utama, to continue providing mining services at the Meandu coal mine in Queensland, Australia. Valued at approximately A$200m per year, the contract extension will be valid through June 2026. Under the renewed contract, BUMA Australia will maintain its current operational scale, producing around 35 million bank cubic metres and coal volumes of around 7 million tonnes per annum.
Gateway sells gold rights in Montague project to Brightstar
Gateway Mining has closed the sale of its gold rights in the Montague East gold project in Western Australia to Brightstar Resources for A$14m ($9.6m). Gateway has received a A$5m cash consideration and A$7m of Brightstar shares. A deferred A$2m of additional Brightstar shares is payable upon the achievement of commercial gold production at Montague East or the delineation of a Joint Ore Reserve Committee (JORC) mineral resource estimate on the tenements exceeding one million ounces of gold.
Energy Fuels finalises purchase of Base Resources for $178m
US-based Energy Fuel has closed the acquisition of Australian critical mineral company Base Resources in a deal valued at approximately $178.4m (A$260.2m). The move marks a significant step in Energy Fuels' strategy to establish a global, low-cost supply chain for rare earth elements and critical minerals. The deal enables Energy Fuels to develop the Toliara project in Madagascar, the Bahia project in Brazil and the planned Donald project joint venture in Australia.
