A Chinese aluminum deal led metals and mining transactions for the week ended Aug. 19, according to a screener on S&P Capital IQ Pro.
Huaibei Public Utilities Assets Operation Co. Ltd. will pay $86.5 million to acquire a 6% interest in Yinbang Clad Material Co. Ltd., a producer of aluminum-clad materials used in heat exchangers, air conditioning and the energy industry.
British Columbia-based explorer American Pacific Mining Corp. agreed to acquire smaller peer Constantine Metal Resources Ltd. in a $23.0 million deal. The combined company will focus on advancing the Palmer zinc project in Alaska and the Madison gold project in Montana.
Magna Mining Inc. signed a $12.4 million deal to acquire Lonmin Canada Inc. from Sibanye Stillwater Ltd. and Wallbridge Mining Co. Ltd. Lonmin owns the Denison platinum group metals project in Ontario that includes the past-producing Crean Hill mine.
DLV Resources Ltd. agreed to acquire West Red Lake Gold Mines Inc. in a deal valued at $9.0 million.
Rounding out the top five transactions of the week, Alpha Copper Corp. signed a nonbinding letter of intent to acquire CAVU Energy Metals Corp. for $7.9 million.
In other transactions, Turquoise Hill Resources Ltd. rebuffed a $2.7 billion takeover bid from majority shareholder Rio Tinto Group after a special committee of independent directors determined that the offer was not in the best interest of Turquoise Hill or its minority shareholders.
UEX Corp. securityholders approved Uranium Energy Corp.'s proposal to acquire UEX following an increase in the purchase price to 49.7 Canadian cents per UEX share from the initial offer of 49 cents per UEX share.
Wheaton Precious Metals Corp. agreed to terminate a silver stream from Glencore PLC's Yauliyacu mine in Peru for $150 million less the aggregate value of any silver delivered to Wheaton in 2022 before closing.
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