Market-Place-4.0 Glencore plc

04.04.2023

Proposal for a merger between Glencore and Teck and simultaneous demerger of combined coal business

Proposal for a merger between Glencore and Teck and simultaneous demerger of combined coal business (Credits: Glencore)

• The proposed transaction would create two standalone companies with substantially larger and more diversified portfolios of assets than those of the proposed Teck Metals and Elk Valley Resources
• MetalsCo to be a world-class standalone base metals business with a diversified portfolio and a leading position in the critical minerals required for the energy transition
• CoalCo to be a highly cash-generative standalone coal and carbon steel materials business; unlike Elk Valley Resources, CoalCo would have no ongoing financial obligations to MetalsCo
• Combination exchange ratio of 7.78 Glencore shares per Teck B share, which represents a valuation premium of 22% based on Glencore’s and Teck B’s undisturbed last close prices as of 31 March 2023, being the last close prior to the proposal becoming public and 20% based on Glencore’s and Teck B’s last close prices as of 24 March 2023, being the last close before the date of the proposal to Teck
• Glencore and Teck shareholders would own approximately 76% and 24% of the merged entities, respectively
• US$4.25 – 5.25 billion of estimated post-tax synergy value
• Glencore and Teck shareholders would be well positioned to participate in valuation re-rating over time
• MetalsCo Industrial Head Office to be located in Canada, managing approximately 3x Teck’s current metals production. Full commitment to continue Teck’s legacy in, and deliver real benefits to, Canada.

Soure: Glencore

#raw materials #critical minerals #coal #metals #mergers and acquisitions #Canada (CA) #divestment #Glencore plc #Mining #Energy

                     

04.04.2023

Csiro technology to help global landmine clearing efforts

New landmine detection technology, developed by Australia’s national science agency Csiro, could soon help landmine-affected countries with their demining efforts.  

03.04.2023

Epiroc completes acquisition of South African mining equipment manufacturer AARD

Epiroc, a leading productivity and sustainability partner for the mining and infrastructure industries, has completed the acquisition of AARD Mining Equipment, a South African mining equipment manufacturer.  

03.04.2023

Akobo Minerals starts up operation of ultra-small plant to process first gold

Akobo Minerals AB (publ) (Euronext and Frankfurt: AKOBO), the Scandinavian-based Ethiopian gold exploration and boutique mining company, today announced that it has reached a true milestone with the start of operations of its ultra-small plant and, with it, production of the company’s first gold.    

31.03.2023

Mining Indaba 2023 delivers a record post-pandemic turnout in attendance

The four-day Indaba, held from 6-9 February 2023 in Cape Town, provided delegates with insight into the future of mining, current operational trends and exposure to investment opportunities in Africa. Investing in African Mining Indaba 2023 has delivered a record post pandemic turnout in attendance, which is testament to the ever-increasing appetite for investing on the continent.