10 December 2024
10 December 2024
Valued at approximately $175.4m, the transaction was funded by Uranium Energy's available liquidity.
This move is part of Newmont's strategy to streamline operations following its acquisition of Newcrest Mining.
The focus will be on lithium, nickel and copper – key elements for battery technology and electrification.
The R500m ($28m) deal consideration consists of approximately R250m in cash and an equal amount in newly issued shares in Neo Energy.
Critical minerals supply chain diversification has bipartisan support in Washington. However, with the Trump administration set to prioritise security over climate, we can expect to see changes on China and to 2022’s Inflation Reduction Act (IRA).
The company plans to initiate detailed soil sampling, geological mapping and prospecting on the Arlington Gold Property.
This commitment is a part of Vulcan's debt financing process and follows a non-binding letter of support received in October 2023.
This collaboration aims to strengthen the domestic antimony supply chain in the US.
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