Jul 23, 2020

Alacer Gold merges with SRR Mining

Alacer Gold
SSR Mining
mining business
Mining deals
Jonathan Campion
1 min
The mining companies Alacer Gold and SSR Mining have merged
The $1.72bn merger between American mining company Alacer Gold and the Canadian metals producer SRR Mining has been approved...

Final approval was given by the Supreme Court of Yukon, subject to regulatory approvals, with the deal already having been approved by each company’s shareholders. The deal for SSR Mining to acquire Alacer Gold was signed in May. Shareholders in Alacer Gold will receive 0.3246 shares in SRR Mining for each of their existing shares.

Once the deal is finalised, SSR Mining will own 57% of shares in the new entity, which will continue to be known as SSR Mining. Alacer Gold will control the remaining 43%.

The merger creates a diversified metals producer with assets in four countries: Alacer’s Çöpler mine in Turkey, as well as gold mines in Nevada and Saskatchewan, and the Puna mine in Jujuy, Argentina.

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Jun 29, 2021

Vale invests $150mn to extend life of Manitoba operations

battery metals
2 min
Vale’s $150mn investment in operations at Thompson, Manitoba will extend mine life by 10 years

Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.

Global energy transition is boosting the market for nickel

The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.

“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.

“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”

Vale continues drilling program at Manitoba

Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.

“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.

“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”

The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history.  Mining of the Thompson orebody began in 1961.

“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.

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