Glencore PLC's deal to acquire Newmont Corp.'s stake in the MARA copper project in Argentina led transactions in the metals and mining space during the week ended Sept. 23.

Glencore's Glencore International AG agreed to acquire Newmont's 18.75% stake in MARA for $174.9 million. Glencore will pay $124.9 million upon deal completion plus a further $30 million in deferred payment upon commercial production, subject to an annual interest charge of 6%. Once the deal is closed, Glencore will own 43.75% of MARA.

Australian resources company AIC Mines Ltd. offered to acquire Demetallica Ltd. from Minotaur Exploration Ltd. for $24.1 million, or 23 cents per share. AIC Mines plans to exchange 1 AIC share for every 1.5 Demetallica share. Demetallica engages in the exploration of mineral resource prospects in Australia.

Kumkang Kind Co. Ltd. completed the acquisition of a 69.4% stake in SAMMI Metal Products Co. Ltd. from KoFC Valueup PEF managed by KB Investment Co. Ltd. for $5.1 million. Both companies are based in South Korea.

Canada-based Freedom Battery Metals Inc. will acquire the Ruby graphite project in Montana from an undisclosed seller for $4.4 million. The company agreed to pay $1 million in cash, issue 1 million shares of its common stock and incur $1.3 million in exploration expenditures to acquire the project. The company will also grant a 2% net smelter return royalty and a balloon payment of $3 million on the commencement of commercial production.

Rounding out the top five transactions for the week, Maverix Metals Inc. paid $2.0 million in cash to acquire a 2% net smelter return royalty on Abcourt Mines Inc.'s Geant Dormant and Dormex properties in Quebec. Both companies are based in Canada.

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