Mergers and acquisitions (M&A) activity is heating up in the Copper Mining sector, as companies race to secure reliable sources of copper to meet the soaring demand from the renewable energy industry. With copper being a crucial component in electric vehicles (EVs), wind turbines, solar panels, and power networks, it is an essential part of the transition to a green economy.

The growing demand for copper is also driven by the increasing adoption of EVs, which require more copper than conventional vehicles due to their electric motors and batteries. In addition, the use of copper in wind turbines and solar panels is expected to increase as these technologies become more widespread. With the shift to renewable energy sources accelerating, the demand for copper is likely to remain strong in the years to come.

According to the International Energy Agency (IEA), copper consumption could surge by up to 40% by 2040, as various governments pursue their Net Zero objectives to reduce greenhouse gas emissions. This has prompted mining companies to ramp up their production and expand their operations through acquisitions and mergers. 

Teck Resources announced in February 2023 that it would divide its steelmaking coal segment into Teck Metals and Elk Valley Resources.  Teck Metals will run and develop its base metals operations, including copper mines in Chile and British Columbia, zinc mines in Alaska and Chile, lead-zinc smelters in Trail, British Columbia, and copper possibilities in Chile and Peru.

Glencore, a Swiss mining company, made an unsolicited $22.5 billion offer to buy Teck Resources, mostly in shares and up to $8.2 billion in cash.

According to Freeport-McMoran, the world’s biggest publicly traded producer, Glencore Plc’s proposed $23 billion buyout of Teck Resources Ltd. is part of a copper consolidation trend that will yield additional mergers as investors want growth in an industry struggling to tap fresh deposits.

After the split, at least six companies, including Anglo American, Freeport-McMoRan, and Vale, have approached Teck about acquiring the base metals company.

On April 13, 2023, Hudbay Minerals, a Canadian miner with operations in Canada, Peru, and the US, announced a formal agreement to acquire Copper Mountain Mining Corporation, a Canadian miner with operations in Australia and British Columbia, for $439 million. 

Lundin Mining, a Canadian base metal mining operator, inked a purchase agreement to buy 51% of the Caserones copper mine in Chile from JX Nippon Mining & Metals Corporation, a unit of ENEOS Holdings, Inc., for US$950 million.

New Energy Metals (TSXV:ENRG) (OTC:NEMCF) is another mining company that recently moved into the copper space following the acquisition of the Troitsa Copper Property in central British Columbia.

Developing a Copper Project in Mining-Friendly British Columbia, Canada

New Energy Metals’ (TSXV:ENRG) (OTC:NEMCF) Troitsa Copper Project consists of mineral claims covering an area rich in porphyry copper-type deposits, containing metals such as copper, gold, and silver.

According to a recently completed NI 43-101 Technical Report, the Troitsa Copper Project’s Main Zone has found many lengthy copper intersections, with mineralization extending at least 5 km by 2 km and containing copper, molybdenum, gold, and silver. 

Higher-grade porphyry geological formations have been discovered inside the Main Zone, with notable intersections including 14m at 0.63% copper, 19m at 0.65% copper, and 25m at 0.71% copper. In comparison, the feed grade of Copper Mountain’s flagship mine was substantially lower, at 0.24% copper in Q4 2022.

In February, New Energy Metals announced that the TSX Venture Exchange had accepted the Troitsa Copper Project  option agreement in response to its news release dated September 7, 2022. The Company may earn a 100% interest in the Troitsa Copper Project by making $220,000 in cash payments and issuing 1,200,000 common shares over a three-year period, as well as completing $5,000 in staking or similar acquisition within the Area of Interest, as defined in the Agreement, within 12 months of the Agreement’s execution date. 

New Energy Metals also recently acquired a Lithium Project in Ontario. 

On March 1, New Energy Metals announced the approval of its Roslyn Lithium Project  through an Assignment and Assumption Agreement with an arm’s length party dated December 6, 2022.

The Roslyn Lithium Project, located 50 kilometers northeast of Nipigon in Northwestern Ontario, is made up of 12 claims (254 cells) totaling approximately 5,100 hectares. Under the provisions of the Agreement, the Assignor assigns and transfers to the Company the right to acquire a 100% interest in the Roslyn Lithium Project.

For more information on New Energy Metals (TSXV:ENRG) (OTC:NEMCF) and its projects, please visit this link.

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding New Energy Metals Corp.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to New Energy Metals Corp.’s industry; (b) market opportunity; (c) New Energy Metals Corp.’s business plans and strategies; (d) services that New Energy Metals Corp. intends to offer; (e) New Energy Metals Corp.’s milestone projections and targets; (f) New Energy Metals Corp.’s expectations regarding receipt of approval for regulatory applications; (g) New Energy Metals Corp.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) New Energy Metals Corp.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute New Energy Metals Corp.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) New Energy Metals Corp.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) New Energy Metals Corp.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) New Energy Metals Corp.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of New Energy Metals Corp. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) New Energy Metals Corp.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact New Energy Metals Corp.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing New Energy Metals Corp.’s business operations (e) New Energy Metals Corp. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, New Energy Metals Corp. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does New Energy Metals Corp. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither New Energy Metals Corp. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of New Energy Metals Corp. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of New Energy Metals Corp. or such entities and are not necessarily indicative of future performance of New Energy Metals Corp. or such entities.

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