A South Korean zinc deal emerged as the highest-valued transaction in the metals and mining space during the week ended July 1, according to a screener on S&P Capital IQ Pro.
Zinc Oxide Corp. agreed to acquire GSDK Co. Ltd., a producer of high-quality zinc concentrates, in a deal valued at $87.8 million. Zinc Oxide is a subsidiary of ZincOx Resources PLC.
Meanwhile, ArcelorMittal SA closed its acquisition of an 80% interest in Voestalpine AG's hot briquetted iron plant in Texas. The transaction valued the operation at $1 billion. The deal allows ArcelorMittal to produce high-quality input materials needed for low-carbon steelmaking.
BlueScope Steel Ltd. also recently completed a deal, acquiring Cornerstone Building Brands Inc.'s coil coatings business for $500 million.
Sibanye Stillwater Ltd. agreed to acquire a 20% stake in Keliber Oy for $49.1 million from Nordic Mining ASA. Keliber's namesake project in Finland is being developed to produce battery-grade lithium hydroxide using its own ore.
Sibanye will hold a majority interest in Keliber with the completion of the Nordic Mining deal, after acquiring a 30.3% interest earlier in the year. The company said it also plans to make a voluntary cash offer to minority shareholders of Keliber to increase its stake to 80%, targeting a deal completion in February 2023.
Investment banking firm Cormark Securities Inc. reached an agreement to acquire a 7.81% stake in Toronto-based explorer Victoria Gold Corp. from Coeur Mining Inc. for $42.3 million. Victoria Gold's main assets include the Eagle mine in northern Canada's Yukon Territory.
Great Panther Mining Ltd. agreed to sell its Mexico-based Minera Mexicana El Rosario SA de CV subsidiary to Guanajuato Silver Co. Ltd. for up to $16.7 million. Great Panther said the sale of its silver operations in Mexico would allow it to focus on its Tucano gold mine in Brazil.
Rounding out the top five transactions of the week, Godawari Power & Ispat Ltd. completed its purchase of a 78.96% interest in India-based Alok Ferro Alloys Ltd. for $16.2 million. Alok Ferro Alloys' operations are based in Raipur, Chhattisgarh.
S&P Global Commodity Insights produces content for distribution on S&P Capital IQ Pro.