More M&A in mineral sands space with ERAMET bidding for Mineral Deposits

MINERAL sands producer Mineral Deposits is the subject of a A$291 million cash offer from 50:50 joint venture partner ERAMET, with the deal the second in the minerals sands space in the past four months following Base Resources’ US$92 million acquisition of the Toliara project in Madagascar back in December.

More M&A in mineral sands space with ERAMET bidding for Mineral Deposits More M&A in mineral sands space with ERAMET bidding for Mineral Deposits More M&A in mineral sands space with ERAMET bidding for Mineral Deposits More M&A in mineral sands space with ERAMET bidding for Mineral Deposits More M&A in mineral sands space with ERAMET bidding for Mineral Deposits
The bid of A$1.46 per share by ERAMET is a 33% premium to the Mineral Deposits volume weighted average share price over the past month.
 
Mineral Deposits and ERAMET hold equal stakes in the TiZr mineral sands joint venture that comprises the Grande Cote mine in Senegal and a titanium and iron ilmenite upgrading facility in Tyssedal, Norway that produces a high grade titanium slag and high-purity pig iron.
 
Mineral Deposits listed on the ASX back 1997 as Nimbus Resources, with the company gaining its present name in 1998 when it acquired the Hawks Nest mineral sands project near Newcastle in New South Wales.
 
Its attention turned to Senegal early this century, where it developed the Sabodala go...