Acquisition of Stake in Valhalla Metals Inc. to Explore Non-ferrous Metals in Alaska, United States
Sep. 21, 2022
MARUBENI METALS ＆ MINERALS (CANADA) INC. (hereinafter, “MMM”), a wholly owned subsidiary of Marubeni Corporation (hereinafter, “Marubeni”) and Valhalla Metals Inc. (hereinafter, “Valhalla”), a Canadian exploration company, have agreed that MMM will acquire an approximately 19.99% stake in Valhalla by subscribing to a third-party allotment of new shares for approximately C$8.3 million.
Valhalla owns exploration assets in the Ambler Mining District (hereinafter, “Ambler Area”) in northwestern Alaska, United States, and this investment from MMM will fund exploration activities in the Ambler Area. The Ambler Area is well known for the existence of one of the foremost volcanogenic massive sulphide deposits*, contains some of the highest grade copper and other metals (zinc, lead, gold, and silver) in the world, and has high exploration potential.
Marubeni has made “Green Strategy” one of its fundamental policies to enhance its corporate value in its current Mid-Term Management Strategy GC2024, which places copper among its green business. Through this investment in Valhalla, Marubeni plans to contribute to ensuring a stable supply of non-ferrous metal resources, which are essential to initiatives for transitioning to a decarbonized society (such as pursuing electrification and expanding clean energy), while continuing to secure non-ferrous metal resources and growing its copper business in line with its long-term vision of becoming a forerunner in green business.
* Volcanogenic massive sulphide deposits: a type of metal sulfide ore deposit dominated by copper and zinc but also containing other minerals such as lead, gold, and zinc, which are associated with and created by volcanic-associated hydrothermal events in submarine environments.
|Company Name:||Valhalla Metals Inc.|
|Location:||Canada British Columbia Vancouver|
|Stock Exchange:||Toronto Stock Exchange Venture Exchange (TSXV)|
|Business Activities:||Exploration activities in North America|
|Company Name:||MARUBENI METALS & MINERALS (CANADA), INC.|
|Location:||Canada Quebec Montreal|
|Business Activities:||Primarily investment in aluminum smelting projects|