Hardey Resources has signed a share sale agreement with Nelly Vanadium Pty Ltd’s (NVPL) shareholders for an option to acquire 100% of NVPL’s issued capital.
NVPL is an Argentinian mineral explorer and the owner of the Nelly Vanadium Mine (NVM).
Hardey has paid A$0.075m ($0.55m) to NVPL for the option, which is exercisable at any time within 40 days from the date of the agreement.
The company will issue 737.5 million fully paid ordinary shares and 737.5 million listed options to acquire the entirety of NVPL’s shares following the option’s implementation.
NPVL’s founding shareholders will also be entitled to a 3% net smelter return royalty on the minerals produced from NVM.
Australia-based Hardey Resources is a junior mineral resources company focused on the exploration and development of key demand-driven commodities.
Volcan has signed an agreement to acquire all the remaining issued and to-be-issued shares in Vedanta.
The company proposes to buy the shares at a price of £8.25 per share.
Vedanta has engaged Lazard & Co Limited as its financial adviser, while Volcan has engaged J P Morgan Cazenove as its financial advisor for the transaction.
Finsbury is providing public relations advisory services for both companies.
OZ Minerals, via its Brazilian subsidiary, plans to begin the compulsory acquisition of the remaining shares in Avanco Resources.
The company has recently increased its stake in Avanco to 90.46% following a $323.2m takeover bid to acquire all of the shares in the company.
The acquisition is expected to help Oz Minerals gain a strategic foothold in Brazil’s Carajás copper region and the Gurupi greenstone belt.
OZ Minerals is a mining company focused on developing copper deposits, while Avanco Resources is engaged in the mining and development of copper and gold deposits in Brazil.
Both companies involved in the transaction are based in Australia.
JX Nippon Mining & Metals Corporation (JXNMM) plans to acquire 36 million shares in Toho Titanium from its parent company JXTG Holdings.
The company also plans to simultaneously acquire 23 million shares in TATSUTA Electric Wire and Cable.
The acquisitions are expected to help JXNMM establish a direct capital relationship with the companies, while achieving faster and more effective business development.
JXNMM is a producer of non-ferrous resources and materials, while Toho Titanium is a manufacturer and seller of titanium metals, propylene polymerisation catalysts and electronic materials.
Both companies are based in Japan.