14 November 2023
14 November 2023
The deal implies $9bn in enterprise value for Teck’s steelmaking coal business, Elk Valley Resources (EVR).
As part of Eramet's production increase plan, the company intends to invest $2.03bn between 2024 and 2026.
With the investment, Barrick’s stake in Hercules Silver has increased to 15.09% on a non-diluted basis.
The funding aims to support industrial projects, supporting the manufacture of electric vehicles (EVs).
The agreement follows last month’s large-scale mining licence from the Ugandan Directorate of Geological Survey and Mines.
The Tabba Tabba project is located 50km from Port Hedland and said to be highly prospective of lithium mineralisation.
Parabolic currently holds the right to select a 100% stake in seven lithium exploration projects in Brazil’s Minas Gerais.
Under Indonesian law, foreign companies have to sell 51% of their stake to local businesses after operating for a certain time.
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