Agnico Eagle Mines Ltd. reached a $580 million deal to acquire a 50% stake in Teck Resources Ltd.'s San Nicolas copper-zinc project in Mexico, topping the metals and mining transactions during the week ended Sept. 16.

Agnico Eagle agreed to subscribe for $580 million worth of shares in Minas de San Nicolás SAPI de CV, the Teck subsidiary that owns the project in Zacatecas. As a result, Agnico Eagle and Teck will become 50/50 joint venture partners in the development project, with closing expected in the first half of 2023. A feasibility study on the proposed mine is anticipated in early 2024.

Two Australian lithium deals were included in the top M&A transactions in the metals and mining space for the week, according to a screener on S&P Capital IQ Pro.

An undisclosed buyer completed its purchase of Breaker Resources NL's remaining stake in Australia-listed Global Lithium Resources Ltd. in a deal valued at $23.6 million. Breaker Resources owned a 3.6% interest in Global Lithium, based on S&P Global Market Intelligence data.

Red Dirt Metals Ltd. agreed to acquire lithium explorer Electrostate Ltd. in a $17.1 million deal. Electrostate owns the early-stage Yinnetharra lithium project in Western Australia.

Aya Gold & Silver Inc. will consolidate ownership of the Zgounder silver mine in Morocco by buying the remaining 15% interest for $6.2 million from state-run Office National des Hydrocarbures et des Mines. The deal also includes five permits adjacent to the property.

Rounding out the top five transactions for the week, Grupo Rosgo SA de CV reached a deal to acquire Minera Oro Silver de México SA de CV from Endeavour Silver Corp. for $5.0 million. The Endeavour Silver subsidiary owns the El Compas property and the lease on the La Plata plant.

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