https://www.miningweekly.com
Exploration|Mining|PROJECT|Projects
Exploration|Mining|PROJECT|Projects
exploration|mining|project|projects

BHP buys Swedish explorer for A$9.8m

26th June 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Ragnar Metals has reached an agreement with the exploration arm of mining major BHP to divest its wholly-owned subsidiary Ragnar Metals Sweden for A$9.8-million.

The sale includes tenements and exploration licences over the Tullsta nickel project in Sweden.

Ragnar said on Monday that the sale is expected to be complete by September 30, with the cash consideration to be paid by BHP Metals Exploration on completion. Deferred consideration, in the form of a 1% net smelter return royalty will be payable to Ragnar upon commencement of commercial production.

BHP has the option to buy out the royalty for a further A$10-million.

“The sale of Ragnar Metals Sweden AB, with the foundation Swedish licences to BHP, validates the company’s original strategy and the potential of the Tullsta nickel project,” said Ragnar executive director Eddie King.

“This transaction provides exceptional value for the company with a substantial initial cash injection and exposure to production through the royalty. I am excited to continue working with BHP to finalise the transaction and then re-direct our attention to exploring further critical mineral opportunities in Sweden.”

Ragnar on Monday also announced the acquisition of two new lithium projects in Sweden, with the company undertaking its first reconnaissance field programme to review the regional prospectivity on the tenure.

“We are excited to expand our exploration portfolio with highly prospective lithium projects, in one of the World’s best mining jurisdictions. We believe Sweden’s lithium potential is still to be unlocked, so we remain very committed to continued success as one of Sweden's most active and effective explorers for critical minerals,” said King.

Edited by Creamer Media Reporter

Comments

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024
Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.119 0.178s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: