01 Sep Canada’s Trevali becomes top tier zinc miner after completing African acquisitions
Canadian miner Trevali (TSX:TV) has completed the purchase of majority stakes in two African mines, which will see the firm enter into the top 10 of zinc producing companies worldwide.
The Vancouver-based firm first announced it would buy Glencore’s Namibian Rosh Pinah mine and the Perkoa mine in Burkina Faso in March, but has now officially completed the formalities of the deal.
The acquisitions will see Trevali effectively double its annual zinc output to 410 million pounds, confirming its position as a global top tier zinc miner.
It will also see the company pass another milestone as the only pure zinc miner to have operations in North and South America, as well as Africa.
“We are very pleased to finalise our acquisition of the Rosh Pinah and Perkoa zinc mines, which marks a truly transformational event for Trevali shareholders,” said president and CEO Mark Cruise.
“Additionally, we welcome Glencore as a key strategic shareholder in Trevali, expanding on the strong, proven business relationship we’ve enjoyed since 2010 at our Santander operation.”