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Sandfire provides MATSA acquisition update

Published by , Editor
Global Mining Review,

Sandfire Resources Ltd has advised that its applications to the Foreign Investment Authority and Competition Authority in Spain in relation to the US$1.865 million acquisition of the MATSA Mining Complex have been approved by the relevant Spanish government authorities.

The two approvals satisfy the outstanding conditions precedent to the sale and purchase agreement (SPA), meaning that the transaction is now unconditional and will proceed toward completion on or around 31 January 2022.

The transaction, as announced on 23 September 2021, delivers Sandfire the MATSA Mining Complex, which comprises three underground mining operations and a world-class 4.7 million tpy central processing facility with state-of-the-art infrastructure.

Karl Simich, Sandfire’s Managing Director and CEO, said: “The achievement of these key government approvals in such a short space of time is a fantastic result, which satisfies all outstanding conditions precedent under the SPA, clearing the way for this transformational transaction to be completed. With deposits paid and funding lined up for the balance of the acquisition consideration, we are poised to complete the transaction around the end of January 2022.”

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