"The company has entered into negotiations with affiliates of funds advised by Appian Capital Advisory LLP, regarding the acquisition of both the Santa Rita nickel and the Serrote copper mines, located in Brazil," it said in a statement.
It did not give details, but US newspaper the Wall Street Journal said the deal is worth around $1-billion.It has been on a buying spree since it was established eight years ago, expanding geographically and diversifying into other metals. The company bought most of its gold mines in 2012 from Gold Fields, one of the oldest gold mines in South Africa.
In 2019, it completed the acquisition of Lonmin -- then the world's third biggest and troubled platinum producer -- whose Marikana mine was the scene of an infamous mineworkers massacre in 2012, when police gunned down 34 striking workers. Early this year, the company ventured into the battery metals industry, investing in a lithium hydroxide project in Finland.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ecuadorian gold and copper resource touted as major findShare price of exploration company Sunstone Metals rockets after stock exchange disclosure of discovery
Source: BDliveSA - 🏆 12. / 63 Read more »
Altron upbeat about prospects, but clients still hold off on large projectsGlobal component shortages and business caution are headwinds, but it is eyeing a better second half
Source: BDliveSA - 🏆 12. / 63 Read more »
Altron upbeat about prospects, but clients still hold off on large projectsGlobal component shortages and business caution are headwinds, but it is eyeing a better second half
Source: BDliveSA - 🏆 12. / 63 Read more »
Reserve Bank keeps a keen eye on the rand as forces accelerateGovernor Lesetja Kganyago says it's only a matter of time before the supply constraints and rising inflation catch up with emerging markets
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: City_Press - 🏆 7. / 72 Read more »
Source: City_Press - 🏆 7. / 72 Read more »