Aluminum Corp. of China Ltd.'s plan to purchase a stake in Yunnan Aluminium Co. Ltd. topped metals and mining transactions for the week ended July 29, according to a screener on S&P Capital IQ Pro.
Aluminum Corp. of China agreed to acquire a 19% stake in the Shenzhen-listed Yunnan Aluminium from Yunnan Metallurgical General Co. for $986.67 million. Upon completion of the deal, Yunnan Aluminium will become a subsidiary of Aluminum Corp. of China.
Australia-based Thiess Group Investments Pty. Ltd. lodged an offer to acquire mining and construction services company MACA Ltd. for $388.96 million. The acquisition will help Thiess diversify its operations across commodities, services and geographies, the company said.
Indian steelmaker Jindal Stainless Ltd. will pay $119.97 million to acquire the remaining 74% stake in Jindal United Steel Ltd. from OPJ Steel Trading Pvt. Ltd. Under the transaction, Jindal Stainless will acquire 34.15 million shares of Jindal United Steel for cash.
Canada-based GCM Mining Corp. will acquire the remaining 55.7% stake in Aris Gold Corp. for $109.32 million. GCM will exchange 0.5 share of its common stock for each common share of Aris Gold.
Rounding out the top five deals of the week, an undisclosed buyer completed the acquisition of up to 10% of the gold and up to 30% of the silver output of the Pebble copper-gold project from Northern Dynasty Minerals Ltd. for $60.00 million.
S&P Global Commodity Insights produces content for distribution on S&P Capital IQ Pro.