Home / Business and Economy / Talon Metals Acquires Eagle Mine in $83.7M Deal
Talon Metals Acquires Eagle Mine in $83.7M Deal
20 Dec
Summary
- Talon Metals to acquire Lundin Mining's Eagle Mine and Humboldt Mill.
- Lundin Mining will receive 275.2 million Talon shares, increasing its stake.
- The deal aims to create a pure-play US nickel company with processing synergies.
Talon Metals has entered into a definitive agreement to acquire Lundin Mining's US operations, encompassing the Eagle Mine and Humboldt Mill. Lundin Mining will receive a substantial stake in Talon, comprising 275.2 million shares, valued at approximately $83.7 million. This acquisition is poised to establish Talon Metals as a prominent pure-play US nickel company, integrating the sole primary nickel mine in operation within the United States.
The transaction strategically merges Lundin Mining's operational Eagle Mine with Talon's existing Tamarack nickel-copper-cobalt project. It also incorporates Talon's extensive 400,000-acre exploration land package in Michigan, which hosts the Boulderdash nickel/copper discovery. Furthermore, Talon's proposed Beulah minerals processing facility in North Dakota is included, promising integrated resource development.
