PORTEIRINHA, Minas Gerais Beneath the shade of the umbu tree, Maria Neves tells Maria José that ripe umbu fruit is like a woman on the brink of giving birth: It demands immediate attention. “Umbu doesn’t take a day off; it’s like milking cows, it’s every day,” says Maria Neves Almeida, a Caatinga dweller (or […]
Appian announces sale of Brazilian companies, Atlantic Nickel and Mineração Vale Verde, to ACG for US$1.065 billion thaipr.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thaipr.net Daily Mail and Mail on Sunday newspapers.
London-listed ACG Acquisition Company, a special purpose acquisition company (SPAC) headed by industry veteran Artem Volynets, will buy two Brazilian nickel mines for $1-billion, as the company aims to capitalise on growing demand for metals crucial to the global energy transition.
ACG will buy Atlantic Nickel and Mineração Vale Verde (MVV) from investment adviser Appian Capital Advisory for $1-billion, as well as the gold royalty on MVV for $65-million.
Atlantic Nickel is the owner of Santa Rita, one of the biggest openpit nickel sulphide mines in the world, located in Bahia. Appian bough Atlantic Nickel, previously Mirabela Nickel, out of bankruptcy in 2018. In the same year, Appian also bought MVV, owner of the Serrote greenfield copper/gold asset and subsequently commissioned the mine.
Appian announces sale of Brazilian companies, Atlantic Nickel and Mineração Vale Verde, to ACG for US$1.065 billion prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
LONDON, June 12, 2023 /PRNewswire/ Highlights Funds advised by Appian agree the sale of the wholly owned Atlantic Nickel andMineracao Vale Verde to ACG for US$1.0 billion, while ACG will also pay US$65 million to extinguish the gold stream over Mineracao Vale Verde, all in cash Provides a compelling value proposition forACG, which will be the only London-listed nickel sulphide producer of scale, creating a natural platform for further growth and consolidation of critical metals assets focused on leading western OEMs Transaction reflects the significant work tooptimise the assets, demonstrating the strength of Appian's operating model and its ability to identify, acquire and develop mining projects Acquired Atlantic Nickel out of bankruptcy in 2018, executing a successful restart, with first quartile C1 cost performance (c. US$3.16/lb Ni for the open pit and c. US$2.02/lb Ni for the underground), defining an underground resource and extending mine life to 35 years Purchased Minerac