Ganfeng lithium JV tops metals, mining deals for week ended Feb. 5

Among top mergers and acquisitions in metals and mining, action in the lithium industry emerged as the highest-valued transaction, according to a recent screener on S&P Global Market Intelligence's online platform.

Lithium-producer Ganfeng International Trade (Shanghai) Co. Ltd. solidified a joint venture agreement to buy a 27.5% stake in Bacanora Lithium PLC's Sonora lithium project in Mexico in a $30.0 million transaction.

As Ganfeng looks to increase ownership of the project, it said it will boost its stake in Baconora, with plans to buy shares in a recent issue that sees its interest in the lithium explorer grow to about 28.9%.

In the gold sector, White Rock Minerals Ltd. agreed to buy AuStar Gold Ltd. in an all-share $19.4 million transaction.

Also, Lansen Investment agreed to buy a 19.78% interest in Falcon Tech Co. Ltd. in a $16.8 million deal.

Resource Development Group Ltd. completed its acquisition of the Balline garnet project in a $16.7 million transaction.

And to round out the top five metals and mining deals for the week, Eskay Mining Corp. said it agreed to acquire a 19.5% stake in Garibaldi Resources Corp. in a $9.3 million deal.