M&As this week: Teck Resources, Tian Yuan Manganese

24 November 2016 (Last Updated November 24th, 2016 18:30)

Teck Resources is set to acquire the remaining 70% stake in AQM Copper through the acquisition of the remaining issued and outstanding common shares for approximately $18.65m.

Teck Resources is set to acquire the remaining 70% stake in AQM Copper through the acquisition of the remaining issued and outstanding common shares for approximately $18.65m.

A definitive agreement has also been signed between the two companies.

Both companies involved in the transaction are based in Canada.

"Grizal Enterprises will be entitled to purchase up to 600,000t of Ghanaian manganese ore for ten years."

Tian Yuan Manganese has reached a share purchase agreement to acquire Consolidated Minerals, a manganese mining company with assets in Ghana and Australia.

The agreement also includes an offtake agreement between the target company’s subsidiary, Manganese Trading, and Grizal Enterprises. As part of this, Grizal Enterprises will be entitled to purchase up to 600,000t of Ghanaian manganese ore from Manganese Trading for ten years.

Tian Yuan is an electrolytic manganese metals producer based in China and a subsidiary of Ningxia Tianyuan Manganese Industry.