Abu Dhabi’s International Resources Holding (IRH) is acquiring a majority stake in Alphamin Resources (TSX-V: AFM), in a move that would grant it access to the Bisie tin mine, one of the world’s largest and highest-grade deposits of the metal.
IRH, which has been eying Alphamin since November, will buy nearly 719 million common shares of the Canadian mining company, representing a 56% interest, from a unit of private equity firm Denham Capital. The transaction is valued at about C$503 million ($366 million), or C$0.70 per share.
Alphamin’s flagship asset is the Bisie tin complex in the Democratic Republic of Congo (DRC), which supplies around 6% of global tin annually. The mine also contains significant quantities of tantalum, tungsten and coltan, which are minerals critical to electronics and green technologies.
IRH said the acquisition strengthens its position in the global industrial metals…
