Rio Tinto Completes Acquisitions of Stakes in Boyne Smelters (BSL) and New Zealand Aluminium Smelters (NZAS)

Energy Fuels to Acquire Australian Strategic Materials in $299 Million Deal

January 22, 2026

Industrial Services

Energy Fuels has signed a Scheme Implementation Deed to acquire 100% of Australian Strategic Materials (ASM) in a transaction valued at about US$299 million (A$447 million implied equity value). The deal is designed to create a fully integrated rare earth “mine-to-metal & alloy” producer outside China by combining Energy Fuels’ rare earth oxide production at its White Mesa Mill with ASM’s downstream rare earth metals and alloy operations in Korea and planned U.S. capacity.

Boliden Completes Acquisition of Neves-Corvo and Zinkgruvan Mines

April 16, 2025

Industrial Services

Boliden has completed its acquisition of the Somincor-Sociedade Mineira de Neves-Corvo (Neves-Corvo) copper-zinc mine in Portugal and the Zinkgruvan zinc mine in Sweden from Lundin Mining. The transaction consideration was USD 1.40 billion at closing (USD 1.30 billion upfront plus up to USD 150 million in commodity-price-linked contingent payments).

Rio Tinto Acquires Remaining Stake in Turquoise Hill Resources for C$43.00 per Share

November 18, 2022

Industrial Services

Rio Tinto has agreed to terminate certain dissent-related agreements with minority shareholders tied to Pentwater Capital Management LP and SailingStone Capital Partners LLC, while its all-cash plan to acquire the ~49% of Turquoise Hill it does not already own will proceed. Under the proposed plan of arrangement, Turquoise Hill shareholders are offered C$43.00 per share in cash, supported by Rio Tinto’s commitments regarding dissent rights and related payments.

Lincoln Electric Acquires Remaining Interest in Alloy Steel

April 1, 2025

Manufacturing

Lincoln Electric Holdings, Inc. acquired the remaining 65% interest in Alloy Steel Australia (Int) Pty Ltd, bringing Alloy Steel into full ownership. Alloy Steel, a Perth-based manufacturer of proprietary wear plate solutions, engineering services and digital monitoring for the mining sector (primarily Asia Pacific), generates approximately USD 50 million in annual revenue and will be reported in Lincoln Electric’s International Welding segment.

Alcoa Acquires Alumina Limited in $2.2B All-Stock Deal

March 12, 2024

Manufacturing

Alcoa announced it will acquire Australia-based Alumina Limited in an all‑stock transaction valued at $2.2 billion, giving Alcoa full control of the AWAC joint venture. Under the scheme, Alumina shareholders will own roughly 31.6% of the combined company (Alcoa shareholders ~68.4%), a transaction Alcoa says strengthens its exposure to tier‑1 bauxite and alumina assets and increases vertical integration across the aluminum value chain.

Russel Metals Acquires Tampa Bay Steel

December 4, 2024

Industrial Services

Russel Metals Inc. has closed its acquisition of Tampa Bay Steel Corporation for US$79.5 million, subject to normal course adjustments. The deal expands Russel Metals’ footprint into the Florida market, bringing Tampa Bay Steel’s value-added processing capabilities and experienced management team into its Southern US businesses.