- Write by:
-
Thursday, March 19, 2020 - 3:45:20 PM
-
994 Visit
-
Print
Mining News Pro - Mineral Resources has struck an asset sales agreement with fellow listed Resources Development Group (RDG) to divest of its noncore manganese assets in Western Australia.
According to Mining News Pro - In return for the manganese assets, Mineral Resource would obtain a 75% interest in RDG, receiving more than 1.89-billion shares in the junior. There would be no cash payable for the transaction.
Subject to the completion of the transaction, Mineral Resources would also provide assistance in the development of a manganese project through a services contract with RDG, and would provide funding assistance through a secured loan to enable RDG to develop a manganese asset.
Mineral Resources’ services would include the design, construction, supply and commissioning of processing and non-processing infrastructure, with the loan consisting of up to A$35-million in funding over a five-year term, and at an interest rate of 8.125% a year.
Mineral Resources chairperson Peter Wade said on Thursday that the restructure of the manganese assets enabled value to be realised while preserving longer-term optionality, at a time when there were significant opportunities within the company’s portfolio.
“Mineral Resources will support RDG in its aspirations to grow the volume and value of project work in the mining, energy and infrastructure sectors at a level that is complementary to Mineral Resources’ own contracting and mining services focus.”
Short Link:
https://www.miningnews.ir/En/News/504638
South African coal miner Exxaro Resources is considering potential deals to acquire copper and manganese assets as part ...
A researcher at the Leibniz Institute for Catalysis in Rostock has developed new methods for the synthesis of drug ...
Deep-sea mining is likely just a matter of time, according to the head of the International Seabed Authority (ISA).
Mining News Pro - US Trade Representative Katherine Tai said “significant progress” was made on a US-UK critical ...
Mining News Pro - The billionaire Batista brothers behind Brazilian beef giant JBS SA are preparing to invest more than ...
Mining News Pro - Sumitomo Metal Mining (TYO: 5713) is investing $16.9 million ($12.5m) in Canada’s battery materials ...
Mining News Pro - The US won’t be able to cut China out of the critical minerals supply chain even as Washington seeks ...
Mining News Pro - Eramet SA will restart production at its manganese mining operations in Gabon on Thursday, ending a ...
Mining News Pro - Britain on Thursday said it had agreed deals with Zambia on clean energy and critical minerals as ...
No comments have been posted yet ...