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Taseko's copper mine deal tops metals, mining M&A for week ended Feb. 24

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Taseko's copper mine deal tops metals, mining M&A for week ended Feb. 24

Taseko Mines Ltd.'s deal to increase its interest in a Canadian copper mine led metals and mining transactions for the week ended Feb. 24, according to a screener on S&P Capital IQ Pro.

The Toronto-listed miner agreed to acquire an additional 12.5% interest in the Gibraltar copper mine in British Columbia from Tokyo-based Sojitz Corp. The transaction is valued at up to $86.6 million including potential contingent payments subject to the copper price and the mine's revenue. Upon closing, Taseko Mines will hold an 87.5% stake in the Gibraltar operation.

Australia-based Catalyst Metals Ltd. reached a $39.9 million deal to acquire Canada-based Superior Gold Inc., owner of the Plutonic gold operation in Western Australia. The deal is subject to Catalyst Metals completing a financing of up to A$50 million.

Tata Steel Ltd. completed the acquisition of a 3.35% stake in steel producer Neelachal Ispat Nigam Ltd. for $36.2 million. Both companies are based in India.

Sibanye Stillwater Ltd. offered to acquire the remaining shares it does not already own in base metals-focused New Century Resources Ltd. for $30.9 million. South Africa-based Sibanye increased its stake in Australia-based New Century Resources to 40.58% after announcing the offer Feb. 21.

Rounding out the top five transactions of the week, NYSE-listed Hecla Mining Co. signed a nonbinding letter of intent to acquire Toronto-listed explorer ATAC Resources Ltd. for $19.6 million.

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