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Pan American Silver has signed a definitive agreement with MAG Silver to acquire all its issued and outstanding common shares for a total consideration of around $2.1bn. MAG shareholders will receive $500m in cash from Pan American’s $923m cash balance and 0.755 Pan American shares for each MAG share. MAG’s directors and executive officers have agreed to vote in favour of the deal, which is expected to close in the second half of 2025, subject to customary conditions and regulatory approvals.

Rio Tinto has signed agreements with Chilean state-owned copper mining company Codelco to establish a joint venture (JV) to develop the Salar de Maricunga lithium project in Chile. Under the terms of the agreement, Rio Tinto will hold a 49.99% stake in Salar de Maricunga SpA by funding studies and development expenses. Rio Tinto has committed to initial funding of $350m and will invest $500m towards construction costs. Another $50m will be due if the JV delivers its first lithium by the end of 2030.

Exxaro Resources has signed binding agreements to acquire shares and claims in manganese assets owned by Ntsimbintle Holdings and OM Holdings in South Africa for R11.67bn ($637m). The assets are located within the Kalahari Manganese Field in the Northern Cape province. The deal includes a 74% share in Ntsimbintle Mining and a 19.99% stake in Jupiter, along with a 100% interest in Ntsimbintle Marketing and Trading, 51% in Mokala and 9% in Hotazel Manganese Mines.

Central Asia Metals (CAML), a UK-incorporated base metals producer, has entered into a definitive scheme implementation deed to acquire Australian miner New World Resources for approximately A$185m ($118m). CAML will take full ownership of the Antler high-grade copper deposit in Arizona, US, as part of the transaction. The project is expected to yield an average of around 30,000 tonnes of copper annually.