Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
SSR Mining (TSX: SSRM) and Alacer Gold (TSX: ASR)(ASX: AQG) announced Friday the receipt of shareholder approvals for the previously announced at-market merger.
In May, Vancouver-based SSR Mining agreed to a deal to acquire its Canadian counterpart in an all-stock, zero-premium deal valued at C$2.4 billion ($1.7 billion).
The business combination would see Alacer’s flagship Çöpler mine in Turkey added to SSR’s existing portfolio that includes the Marigold gold mine in Nevada, the Seabee gold operations in Saskatchewan and the Puna operations in Jujuy, Argentina.
On closing, each of the Alacer issued and outstanding common shares will be exchanged for 0.3246 of an SSR Mining common share, the companies said in a joint statement.
The transaction was approved by approximately 99.9% of the votes cast by Alacer shareholders at the special meeting of shareholders that was held Friday, representing 79.9% of eligible shares voted.
SSR Mining shareholders approved the transaction by approximately 96.5% of the votes cast.
