- Write by:
-
Wednesday, April 6, 2022 - 13:43:24
-
643 Visit
-
Print
Mining News Pro - Silver Elephant Mining and Battery Metals Royalties have announced that they have entered into a binding letter of intent pursuant to which Battery proposes to acquire a 45% equity interest of Silver Elephant’s wholly owned Mega Thermal Coal Corp. (formerly Asia Mining Inc.), which owns and operates the Ulaan Ovoo and Chandgana thermal coal mines in Mongolia through Mega Coal’s wholly-owned Mongolian subsidiaries for $6.3 million.
The proposed transaction, the company said, is a step to transform Silver Elephant to a pure silver mining and exploration company by monetizing non-core assets.
Under the terms of the deal, Mega Coal and Battery will revise the terms of a net smelter royalty agreement dated August 25, 2021, as amended, between Mega Coal and Battery from $2 per tonne of coal to 3% of gross coal sales with a minimum royalty of $3 per tonne of coal.
U.S. coal prices topped $100 a tonne for the first time in 13 years on Monday as Russia’s war in Ukraine upends international energy markets and an economic rebound from the pandemic drives up demand for fossil fuels.
Short Link:
https://www.miningnews.ir/En/News/621004
Jiang Weiping, the founder of major Chinese lithium producer Tianqi Lithium Corp., resigned as chairman after the ...
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
When former boss Mark Cutifani left Anglo American Plc in mid-April 2022, things had rarely looked better for the ...
China’s Tianqi Lithium said on Thursday it has formally requested that a proposed joint venture between lithium company ...
India is in talks with several countries seeking partnerships for technical help on lithium processing, said four ...
Teck Resources, Canada’s largest diversified miner, saw its copper production jump by 74% in the first three months of ...
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
Chile’s state copper company Codelco defended its proposed lithium production tie-up with SQM in response to criticism ...
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
No comments have been posted yet ...