Posted in | News | Zinc

Nyrstar to Acquire Farallon Mining

By Joel ScanlonNov 16 2010

Nyrstar will take over Farallon Mining in a friendly deal for around $380 million. The European company has offered 80 cents per share for Farallon Mining after close of markets on Monday. The shares last traded at 78 cents on the Toronto Stock Exchange.

Dick Whittington the president and chief executive of Farallon Mining said that they believed the offer represented a meaningful and fair premium to the current share price. The mining company’s chief asset is a zinc mine it operates in Mexico. The Campo Morado mine is about 160 km south west of Mexico City.

The offer from Nystar has received support from the board of directors and senior executives of Farallon Mining. It has also got the blessings of the single largest shareholder in the company, Acuity Investment Management Inc.

Paradigm Capital Inc has also reinforced the belief of the Farallon Mining board and executives as deeming the deal fair from a financial point of view. Nyrstar is a publically listed Belgian company. Its main focus of business is production of zinc metals and alloys along with lead.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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