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Ma’aden to acquire SABIC’s 20.62% stake in Bahrain’s Alba

Saudi state-owned metals and mining company Ma’aden has agreed to acquire a 20.62% stake in Aluminium Bahrain (Alba) from Saudi Basic Industries Corp (SABIC). This move aligns with Ma’aden’s strategy to grow its operations tenfold by 2040, with aluminium playing a crucial role. SABIC expects proceeds of around $963.25m–$1.06bn from the sale, which is contingent on the fulfilment of standard closing conditions. This deal comes on the heels of Ma’aden’s non-binding deal exploring the combination of its aluminium operations with Alba.

AngloGold Ashanti makes $2.5bn buyout offer for Centamin

AngloGold Ashanti has offered $2.5bn (R44.85bn) to take over smaller rival Centamin, which owns Egypt’s largest gold mine, Sukari. As per the proposal, shareholders of London Stock Exchange and Toronto Stock Exchange-listed Centamin would get 0.06983 new AngloGold shares along with $0.125 in cash for each share they hold. The offer values Centamin shares at 163p each, a 36.7% premium over the closing price on 9 September.

Antler enters deal to sell Namibia gold project to Fortress

Antler Gold has sealed a definitive agreement with Fortress Asset Management to divest the Erongo Central Gold Project in Namibia. The agreement allows Fortress to acquire up to a 100% interest in the project, with Antler retaining a 2% net smelter return (NSR) royalty. The transaction includes a total consideration of $5.5m, with a commitment of another $6m for exploration expenditures over the agreement’s term.

Source: Pharmaceutical Technology

Marubeni, Hitachi form JV for mining equipment sales in Brazil

Marubeni and Hitachi Construction Machinery (HCM) have set up a JV, ZAMine Service Brasil, to engage in mining equipment sales and maintenance services in Brazil. This move is set to capitalise on the growing demand for mining equipment in the region. The alliance between Marubeni and HCM dates back to the 1970s, with similar joint initiatives in Australia and Ukraine. ZAMine Brasil will take over the operations previously managed by Marubeni Brasil.

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