Exchange-Listed Companies

Mining Companies took centre stage this week:

Gold Fields has partnered with Osisko Mining to develop the Windfall project in Québec, Canada. The companies will develop and mine the underground Windfall Project. Gold Fields has acquired a 50% interest in the feasibility stage for a cash payment of C$300 million with a further cash payment of C$300 million payable on issuance of key permits. Under the partnership Gold Fields has also acquired a 50% up-front vested interest in Osisko’s highly prospective Urban Barry and Quévillon district exploration camps – in exchange Gold Fields will fund the first C$75 million in regional exploration on the properties over the first seven years, thereafter exploration spend will be shared.

Glencore has announced the purchase of an 30% equity stake in Alunorte and a 45% stake in Mineracão Rio do Norte for a combined equity value of c.US$775 million. The acquisitions from Norwegian Norsk Hydro are inter-conditional. The Brazilian acquisitions provide Glencore with exposure to lower-quartile carbon alumina and bauxite – enhancing Glencore’s capability to supply the materials in the ongoing energy transition.

In February Sibanye-Stillwater, which had a 19.9% stake in Australian retreatment mine New Century Resources, made an unsolicited offer to acquire the remaining stake. The takeover offer of A$1.10 per share saw Sibanye’s stake increase to 87.64% by March 21, 2023. The company will now acquire all remaining shares that have not been validly accepted in the offer. Sibanye has been unhappy for some time with New Century Resources’ strategic direction. The transaction is valued at A$120 million (R1,5 billion).

Unlisted Companies

Local real estate company Only Realty Property Group has acquired a majority stake in Leadhome, a tech-driven, full service real estate agency.

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