Trevali Buying Glencore Interests in Rosh Pinah, Perkoa
Trevali Mining has entered into definitive agreements with Glencore PLC and certain of its subsidiaries to acquire a portfolio of zinc assets from Glencore, including an 80% interest in the Rosh Pinah mine in Namibia, a 90% interest in the Perkoa mine in Burkina Faso, an effective 39% interest in the Gergarub project in Namibia, an option to acquire 100% interest in the Heath Steele property in Canada, and certain related exploration properties and assets for an aggregate purchase price of approximately $400 million.
Teck Sells Interest in Haib to Deep-South Resources
Teck Resources Ltd. announced it has entered into a definitive agreement to sell its 70% interest in Haib Minerals Ltd. to Deep-South Resources Inc., who holds the remaining 30% interest in Haib. Haib holds a 100% interest in the Haib copper project located in Namibia.
As part of the consideration under the sales agreement, Teck will receive 13.6 million common shares of Deep-South at closing. The shares issued on closing, together with the 4.17 million common shares currently held by Teck, will result in Teck holding approximately 35% of Deep-South’s outstanding shares on an undiluted basis.