President and CEO Mark Bristow said the company expected to complete a feasibility study for the project, which could extend the life of the mine into the 2030s.
The $285-million takeover bid, considered by some analysts and Acacia’s minority shareholders as low, would see the world's second largest gold producer buying the remaining 35% of the African miner it does not already own, at a discount.
Debt financing agreements worth $200 million could be finalized “any day” and are expected to catalyze equity financing to start the almost 30-month development of the 1.1 billion-tonne Colluli sulphate of potash project, the company said.
The Canadian miner said its long-term growth strategy focus on developing its existing pipeline of projects, while seeking global exploration opportunities.
The state-owned copper miner said that since mining at the open-pit mine ends in 2020, which is when the underground section begins commercial operations, it will able to keep productive capacity unchanged.
The Chilean lithium producer expects demand to grow about 17% in 2019 to at least 315,000 tonnes, compared to the less than 260,000 tonnes it totalled last year.
Copper output in Africa’s second largest producing country could decline by as much as 100,000 tonnes this year, adding to recent, sharp declines at the world’s main producing nations.