Russia’s largest nickel maker, Norilsk Nickel, plans to acquire Asian Mineral Resources (AMR) Limited, which is developing the Ban Phuc nickel deposit in Vietnam, for $22 million, the company said on Thursday.
It will use a subsidiary to offer shareholders of Canada-registered AMR to sell shares at a price of Canadian $0.11 [$0.107] per share, representing a 69 percent premium to AMR’s average share price over the last twenty days.
AMR is developing the Ban Phuc deposit located 180 kilometers west of Hanoi. Reserves of the field are estimated at over 200,000 tons of nickel and 18,000 tons of copper.