International Resources Holding to Acquire Majority Stake in Alphamin Resources from Tremont Master Holdings

Global industrial metals giant International Resources Holding (IRH) has announced a definitive agreement to acquire a majority stake in Alphamin Resources Corp., a leading tin producer, from Tremont Master Holdings. This strategic acquisition, valued at approximately C$503.3 million, significantly bolsters IRH's position in the critical raw materials sector.

IRH Strengthens Global Metals Portfolio

International Resources Holding (IRH), an Abu Dhabi-based global mining company, is set to acquire 718,990,967 common shares of Alphamin Resources Corp. from Tremont Master Holdings. These shares represent approximately 56% of Alphamin's outstanding common shares. The total consideration for this significant transaction is C$503,293,677 (US$367,001,749), though this figure is subject to potential adjustments based on certain distributions or payments made to Tremont by Alphamin.

This acquisition aligns with IRH's strategy to secure and optimize industrial metals supply chains. Alphamin is recognized as one of the world's largest and highest-grade tin producers, a vital raw material used extensively in electronics, manufacturing, and various industrial applications. Ali Alrashdi, CEO of IRH, emphasized that Alphamin's robust production profile perfectly complements IRH's objective of securing high-quality mining assets with long-term growth potential.

Tremont's Strategic Divestment

Tremont Master Holdings, an investment holding company, is divesting its majority interest in Alphamin after a 12-year involvement that saw the exploration, evaluation, and successful operation of the Bisie mine. Rob Still, Chairman of Tremont Master Holdings, expressed satisfaction in transferring their ownership to another long-term investor who shares their vision for the operation and commitment to the region.

Upon completion of the transaction, Tremont will retain a minor stake of approximately 0.8% of Alphamin's outstanding common shares, holding 10,133,592 common shares.

Transaction Details and Future Outlook

Key aspects of the transaction include:

• Acquired Shares: 718,990,967 common shares of Alphamin.
• Acquisition Price: C$0.70 per share.
• Total Consideration: C$503,293,677 (US$367,001,749).
• IRH's Ownership Post-Acquisition: Approximately 56% of Alphamin's outstanding common shares.
• Tremont's Ownership Post-Acquisition: Approximately 0.8% of Alphamin's outstanding common shares.

The closing of the transaction is contingent upon fulfilling various conditions, including obtaining all necessary regulatory and internal corporate approvals. IRH has indicated that it will continuously review its investment in Alphamin and may consider further actions, including potentially acquiring the remaining outstanding common shares, based on market conditions and strategic considerations.

Key Takeaways

• IRH to acquire a majority stake (approximately 56%) in Alphamin Resources Corp. from Tremont Master Holdings.
• The acquisition price is C$0.70 per share, totaling C$503.3 million.
• This move strengthens IRH's position in the global industrial metals sector, particularly in tin production.
• Alphamin is a key producer of high-grade tin, a critical raw material.
• Tremont is divesting its majority interest after a 12-year involvement in Alphamin's operations.

Sources

• International Resources Enters into Agreement to Acquire Majority Interest in Alphamin Resources from Tremont
  Master Holdings, Junior Mining Network.