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Australia: Tawana and Alliance steps closer to merger

By  |  June 12, 2018

Tawana Resources’ proposed merger with Alliance Mineral Assets, first announced in April, has been given the go ahead by the Australian Government.

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    The two companies are joint venture partners at the Bald Hill lithium-tantalum mine in the Eastern Goldfields, Western Australia.

    The merger would result in the formation of a new company comprised of roughly 50-50 ownership between Tawana and Alliance; the current plan is for the AU$446 million-valued  (US$337.8 million) company to be dual-listed on both the Australian Securities Exchange and Singapore Exchange. The boards of Tawana and Alliance have recommended shareholders to accept the merger.

    Alliance has received a “no objection” response from the Australian Treasurer, satisfying a Foreign Investment Review Board approval condition of the scheme implementation agreement between Tawana and Alliance.

    Full Content: Mining Weekly

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