Mining companies were highly focused on executing M&As, including the merger between Anglo American and Teck Resources, as well as the Sierra Madre Gold & Silver the acquisition of First Majestic Silver’s Del Toro silver mine in Zacatecas. In other news, the nearly two-decade-long strike at the Cananea mine has come to an end.
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Canadian Authorities Approve Teck Resources-Anglo American Merger
Canada-based Teck Resources and UK-based Anglo American announced that they have received regulatory approval from the Government of Canada under the Investment Canada Act (ICA) for their proposed merger of equals. As a result of the merger, the Anglo Teck company was formally established.
Silver Wolf Acquires Ana Maria, El Laberinto Properties
Silver Wolf Exploration announced the completion of all expenditure and payment requirements to acquire a 100% interest in the Ana Maria and El Laberinto properties in Mexico. After the acquisition, Avino Silver & Gold Mines ended up owning 18.19% of Silver Wolf’s shares. The acquisition was finalized following the issuance of 2,000,000 common shares to Avino Silver & Gold Mines valued at CA$400,000 (US$290,730) based on a deemed price of C$0.20 per share.
J2 Metals to Acquire Sierra Metals’ Silver-Antimony Project
Canada-based J2 Metals has entered into a three-year option agreement with Impact Silver to acquire the Sierra Plata Project in Guerrero. The project is expected to benefit from higher silver prices and by its potential to extract antimony, a critical mineral for the defense and microchip industries.
Vizsla Silver Acquires Fresnillo Claims Near Panuco
Vizsla Silver has announced that it has agreed to acquire 10 mining claims totaling 2,378ha from Fresnillo, located along the Panuco-San Dimas corridor. As consideration for the transaction, Vizsla Silver will pay US$2 million in cash and issue US$4 million in common shares to Fresnillo.
Sierra Madre Acquires First Majestic’s Second Asset in Mexico
Sierra Madre Gold & Silver is further growing its operations in Mexico with the acquisition of the Del Toro silver mine in Zacatecas from First Majestic Silver, marking its second purchase from the company. The move positions Sierra Madre to increase production and explore significant new resources in a historically underexplored district.
Algo Grande Completes Full Acquisition of the Adelita Project
Algo Grande Copper has completed the full acquisition of the 5,895ha Adelita Copper-Gold-Silver Project in the Arizona–Sonora Copper Belt, purchasing an 80% stake from Infinitum Copper and the remaining 20% from Minaurum Silver Inc.
Cananea Mine Strike Ends After 18 Years, Agreement Reached
After nearly two decades, the labor conflict at the Cananea mine has come to an end, as miners from Section 65 of Mexico’s National Miners’ Union unanimously approved a final agreement providing long-awaited compensation, access to social security and pensions, and a comprehensive resolution for more than 650 workers and their families.