Takeovers, financings, listings and country risk in mining, dated and sourced. Each item says why it matters and links to the course module that explains it. New items are added every Monday.
Glencore’s depositary interests began trading on the ASX on 14 October, opening at A$11.44 and closing at A$11.23. The group, worth about $88bn, already trades in London and Johannesburg and hopes to join the S&P/ASX 200 within a year.
SSR will pay C$6.75 a share in cash, about a 27% premium, valuing Roxmore at roughly $464m excluding a spin-off of its other exploration assets. The prize is the Converse gold project in Nevada, about 6 km from SSR’s Marigold mine. SSR shares fell about 7.6% on the news.
A three-minister commission advised President Mulino to negotiate a restart of First Quantum’s mine so it can fund its own orderly closure. It set conditions, including no extension of the mine’s life and an end to arbitration claims totalling $27bn. The president has not made a final decision.
Gold Fields offered 0.3125 of its shares plus A$7.25 in cash for each Northern Star share, worth about A$27 and a 22% premium. Northern Star’s board said the proposal undervalued the company and was opportunistic, noting that about 73% would be paid in Gold Fields shares. Activist investor Elliott urged the board to engage.
Luca pays $290m upfront in cash and shares, $35m a year after closing, and up to $60m more if the LME copper price clears set levels in 2027, 2028 and 2029. Closing is expected in the fourth quarter of 2026.
Teck said completion of the Anglo American merger will follow 11 trading days after the last condition is met, within a window running from September 2026 to March 2027. Some foreign regulatory approvals were still outstanding.
Three-month LME copper rose to $14,533 a tonne, beating the record set in January, on expectations that the US would extend tariffs to refined copper. Metal shipped to US warehouses had turned an expected global surplus into a tight market. Copper was up 17% over the year.
Boliden will issue 0.250 of its shares for each Nexa share held by Votorantim, taking 64.68% for about $1.31bn, a 14.2% premium to the 20-day average. It then plans a cash tender offer to Nexa’s public minority. Closing is expected in the first quarter of 2027.
Each Orla share became one Equinox share. Former Equinox holders own about 67% of the group and former Orla holders about 33%. The combined company produces about 1.1 million ounces of gold a year.
A consortium led by former De Beers chief executive Gareth Penny was reported as preferred bidder for Anglo’s 85% stake, with about $750m upfront, $250m later and performance-linked payments. Botswana holds a right of first refusal, and Anglo has cut the unit’s carrying value to $2.3bn.
The two companies let the 29 July deadline lapse, saying there was no reasonable likelihood the remaining conditions would be met. Zijin will instead buy a 9.2% stake for about $295m at C$32.55 a share, well below the C$44 offer. Allied shares fell nearly 15%.
In an all-share deal, NovaGold will take full ownership of the Donlin Gold project in Alaska through a new US company to be listed in New York, worth about $4.2bn. Paulson will hold about 40% of the economic interest but its votes will be capped at 19.99%. A shareholder vote is set for November.
Vault holders receive 0.7629 Genesis shares plus A$0.475 in cash per share, about a 15.7% premium, valuing Vault at roughly A$5.6bn. Genesis’s offer displaced an agreed deal between Vault and Regis Resources. Implementation is expected by November 2026.
Alcoa will pay $3.1bn in cash and about $1.0bn in shares for South32’s stakes in the Worsley refinery and its bauxite mine in Australia, the Hillside smelter in South Africa and bauxite, alumina and aluminium assets in Brazil. A contingent value right could add up to $750m if prices rise. The Mozal smelter is excluded.
Dhilmar will pay $2.3bn at completion and up to $1.575bn in a price-linked earn-out over five years. Anglo will use the cash to cut debt and keeps pursuing arbitration against Peabody, which walked away from the same assets in 2025. Completion is expected by early 2027.
Orla holders will receive one Equinox share for each Orla share, leaving Equinox holders with about 67% of the combined company and Orla holders 33%. The new Equinox, worth about $18.5bn, becomes a major North American gold producer. The deal completed on 31 July 2026.
Vault holders were offered 0.6947 Regis shares each in an all-share deal valuing the combined group at about A$10.7bn and producing more than 700,000 ounces a year. In July Genesis Minerals made a superior proposal, Regis declined to match it and received a break fee of about A$50.7m.
Agnico agreed to buy Rupert Resources for about C$2.9bn, Aurion Resources for about C$481m in cash and B2Gold’s 70% of the FinGold joint venture for $325m. Together they give it about 2,500 sq km in the Central Lapland greenstone belt, which could support about 500,000 ounces a year within a decade.
The deal includes $300m in cash and 126.8 million new USA Rare Earth shares, valuing Serra Verde at about $2.8bn. Serra Verde runs Pela Ema in Goiás, Brazil, Latin America’s only producing rare earths mine.
G2 holders will receive 0.212 G Mining shares each, worth C$10.84 and a 72% premium to the 30-day average. The deal joins G Mining’s Oko West and G2’s Oko-Ghanie projects in Guyana, which together could produce more than 500,000 ounces a year. G2 shares jumped 66% and G Mining fell 8.6%.
New Gold holders received 0.4959 Coeur shares each, a 16% premium at announcement and about $7bn of equity value. They now own about 38% of the enlarged Coeur.
Cengiz Holding agreed to pay $1.5bn in cash for SSR’s 80% of the Çöpler gold mine, idle since a deadly heap leach failure in 2024. SSR is also reviewing its 20% stake in the Hod Maden project. SSR shares rose 15% before the open. The sale completed in June 2026.
Hudbay will issue 0.242 of its shares for each Arizona Sonoran share it does not own, worth C$9.35 and a 30% premium. Hudbay already held about 9.99%. The deal combines the Cactus project with Hudbay’s Copper World in Arizona. It completed in June 2026.
Wheaton Precious Metals will pay BHP $4.3bn up front for silver linked to BHP’s 33.75% share of output from the Antamina mine in Peru. It was described as the largest precious metals stream ever by upfront payment. The mine’s operator is not a party to the deal.
At the UK takeover deadline, Rio said it would not make an offer. The two sides disagreed on valuation and on Rio keeping both the chair and chief executive roles. Glencore shares fell as much as 11%.
Glencore signed a non-binding agreement for the Orion Critical Mineral Consortium to buy 40% of Mutanda and Kamoto Copper Company at an enterprise value of $9bn for the two mines. Orion CMC is backed by Abu Dhabi’s ADQ and the US International Development Finance Corporation, and could direct sales of its share of output under a US-Congo partnership.
Silver closed at $78.53 an ounce, down 35.9%, its largest one-day fall on record, days after peaking above $121. Gold, which had neared $5,600, posted its steepest fall since the early 1980s. The sell-off followed reports that the Trump administration would nominate Kevin Warsh to lead the Federal Reserve.
Spot gold climbed above $5,100 an ounce, extending a rally driven by geopolitical tensions and central bank buying. Gold had first crossed $4,000 in October 2025.
Zijin Gold International offered C$44 a share in cash, a premium of about 27% to Allied Gold’s 30-day average price. Allied owns gold mines and projects in Africa, including Sadiola in Mali and Kurmuk in Ethiopia. Closing was expected by late April.
A ship carrying nearly 200,000 tonnes of ore from the Simandou project in Guinea reached Majishan port in Zhejiang, according to China Baowu Steel. China, which imports about 80% of its iron ore, invested heavily in the project to increase its supply security.