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$186M uranium deal leads metals, mining M&A for week ended June 17

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$186M uranium deal leads metals, mining M&A for week ended June 17

Uranium Energy Corp.'s agreement to acquire UEX Corp. led the metals and mining transactions during the week ended June 17, according to a screener on S&P Capital IQ Pro.

Texas-based Uranium Energy signed a definitive agreement to acquire British Columbia-based UEX in an all-share deal valued at $186.4 million. The deal will allow Uranium Energy to diversify its U.S.-focused portfolio with the addition of UEX's assets based in Canada's Athabasca basin.

Meanwhile, Toronto-based Kinross Gold Corp. completed the sale of its Russian assets to Fortiana Holdings Ltd.'s Moscow-based Highland Gold Mining Ltd. unit for $340 million, half of the initial $680 million consideration outlined in April when the deal was announced.

Orla Mining Ltd. agreed to acquire Nevada-focused explorer Gold Standard Ventures Corp. in a deal valued at $172.4 million. Gold Standard owns the feasibility-stage South Railroad gold project and the early stage Lewis gold development. Both companies are headquartered in Vancouver, British Columbia.

Moscow-based PJSC Polyus will pay $140 million to acquire the Chulbatkan gold project in the Russian Far East from Fortiana Holdings. Chulbatkan was part of the Kinross portfolio that was sold to Highland Gold.

Guanghui Energy Co. Ltd. agreed to acquire a 20% stake in Xinjiang Hejin Holding Co. Ltd., a producer of nickel-based alloy materials, for $113.4 million. Both companies are based in Xinjiang, China.

Rounding out the top five transactions of the week, Elemental Royalties Corp. will acquire Altus Strategies PLC in a merger valued at $92.8 million. U.K.-based Altus Strategies' portfolio includes 33 royalty interests and 29 project interests.

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S&P Global Commodity Insights produces content for distribution on S&P Capital IQ Pro.