Taseko Mines Limited entered into definitive agreement to acquire remaining 12.5% stake in Gibraltar Mines Ltd from Furukawa Co.,Ltd. and Dowa Metals & Mining Co., Ltd. for approximately CAD 140 million.
March 24, 2024
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Taseko Mines Limited (TSX:TKO) entered into definitive agreement to acquire remaining 12.5% stake in Gibraltar Mines Ltd from Furukawa Co.,Ltd. (TSE:5715) and Dowa Metals & Mining Co., Ltd. for approximately CAD 140 million on March 25, 2024. The total consideration will be paid CAD 142 million, An initial CAD 5 million will be paid to Dowa and Furukawa (CAD 2.5 million each) and remaining CAD 117 million payable over a period of ten years and additional potential contingent payments of CAD 25 million depending on copper prices and Gibraltar's cashflow.
FURUKAWA CO., LTD. mainly engages in industrial machinery business, rock drill business and other businesses. The Company operates in seven segments. The Industrial Machinery segment offers pumps, crushers and steel structures, among others. The Rock Drill segment provides rock drills, including hydraulic breakers, crushers and others. The Unic segment provides unic cranes, mini crawler cranes and others. The Metal segment provides copper, gold, silver, sulfuric acid and others. The Electronic segment provides high-purity metallic arsenic, crystal products and others. The Chemical segment offers crystal products, ferric polysulfate solution and others. The Real Estate segment involves in the trading and leasing of real estate.
Taseko Mines Limited entered into definitive agreement to acquire remaining 12.5% stake in Gibraltar Mines Ltd from Furukawa Co.,Ltd. and Dowa Metals & Mining Co., Ltd. for approximately CAD 140 million.
FURUKAWA CO.,LTD. 
