M&As this week: Centerra Gold, Latrobe Magnesium (LMG)
Centerra Gold has signed a definitive arrangement agreement to acquire Thompson Creek Metals for $1.1bn.
Thompson Creek Metals is the operator of the Mount Milligan gold and copper mine in British Columbia, Canada.
Centerra Gold has also signed a binding commitment letter with Royal Gold, which if realised would convert Royal Gold's 52.25% gold streaming interest at Mount Milligan to a 35% gold stream and 18.75% copper stream, while Mount Milligan's revenue split to Centerra would be approximately 70% gold and 30% copper.
Latrobe Magnesium (LMG) has finalised a share purchase agreement to acquire the remaining 50% shares in Ecoengineers.
Following completion of the transaction, which is expected in December 2016, LMG will have 100% ownership of the hydromet process and its patents.
As part of the deal, LMG will offer 30 million shares priced at A$0.03 ($0.02) each to Dr Steve Short, developer of the Hydromet process.
Image: The Mount Milligan gold and copper mine will be acquired by Centerra Gold. Photo: courtesy of Thompson Creek Metals Company.