Teck Resources’ subsidiary Teck American has agreed to transfer full ownership of the Apex mine in Utah, US, to Blue Moon Metals.

This mine, which previously produced germanium, gallium and copper, is set to enhance Blue Moon's portfolio of critical mineral projects aimed at bolstering North American supply chains.

The deal strengthens Blue Moon's existing partnership with Hartree Partners, a key collaborator with the US Government on the recently unveiled $12bn critical metals stockpile initiative.

Both Blue Moon and Teck signed a sale and purchase agreement in February 2026, with completion expected by March.

As part of the agreement, Blue Moon will gain full ownership of the Apex mine, encompassing 26 patented and nine unpatented claims over 250 hectares (ha).

In exchange, Blue Moon will issue 7,031,959 common shares to Teck, representing 8% of its outstanding shares at the time of the announcement.

Additionally, Teck will receive a 0.5% net smelter returns (NSR) royalty on the property and a capped royalty of $1m (C$1.37m), free from other encumbrances.

Immediate synergies include potential processing of zinc concentrates from Blue Moon's California-based Blue Moon Mine at Teck's Trail Operations in Canada, as well as plans to redevelop the Apex mine to secure an onshore source of germanium and gallium.

Additionally, there are considerations for restarting the permitted Springer tungsten mine in Nevada, US, to fulfil domestic requirements and expand critical mineral processing capabilities.

Blue Moon owns the advanced-stage Blue Moon Mine in California, which has historical production records from the mid-20th century and has undergone recent evaluations to support a restart.

The company received permits in April 2025 and began constructing an exploration decline in October the same year.

Production is expected to commence in 2028, with ongoing technical work aimed at processing materials at Blue Moon's Springer complex in Nevada.

Blue Moon CEO Christian Kargl-Simard said: “Underground development at the Blue Moon Mine is advancing well, which together with the acquisition of the Apex Mine and our redevelopment of the Springer metallurgical complex and Springer tungsten mine, provides a unique hub and spoke platform for US critical metals growth.

“Teck and Blue Moon are logical partners, combining Blue Moon's US project pipeline and processing capacity at Teck's Trail Operations. We are excited to leverage our combined infrastructure, industry leading technical know-how, and financing depth to advance our US domestic copper, zinc, tungsten and now germanium and gallium projects to provide long-term feed for our Springer complex.”

The Apex mine, historically mined for copper oxide before its focus on germanium and gallium production in the 1980s and 1990s, is set for redevelopment subject to renewed permits.

Blue Moon intends to conduct technical studies and community engagement as part of efforts towards a final investment decision, while exploring options for a new processing line at the Springer complex.

Completion of the transaction remains subject to TSX Venture Exchange approval, finalisation of definitive agreements and other standard conditions for asset transactions.