Divestiture • Metals/Mining

Osisko Metals Acquires Gaspe Copper Mine

On March 28, 2022, Osisko Metals acquired metals/mining company Gaspe Copper Mine from Glencore for 25M USD

Acquisition Context
  • This is Osisko Metals’ 1st transaction in the Metals/Mining sector.
  • This is Osisko Metals’ largest (disclosed) transaction.
  • This is Osisko Metals’ 1st transaction in Canada.
  • This is Osisko Metals’ 1st transaction in Quebec.

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M&A Deal Summary

Date March 28, 2022
Target Gaspe Copper Mine
Sector Metals/Mining
Buyer(s) Osisko Metals
Sellers(s) Glencore
Deal Type Divestiture
Deal Value 25M USD

Target Company

Gaspe Copper Mine

Murdochville, Quebec, Canada
Gaspe Copper Mine is a provider of copper concentrate continuously from 1955 until the closure of the mine in 1999. Gaspe Copper Mine is based in Murdochville, Quebec.
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Buyer Overview 1

Buyer

Osisko Metals

Montreal, Quebec, Canada

Category Company
Founded 2017
Sector Metals/Mining
DESCRIPTION

Osisko Metals is an exploration and development company provides past-producing zinc mining camps, the Pine Point Project, located in the Northwest Territories for which the 2020 PEA has indicated an after-tax NPV of $500M and an IRR of 29.6%. Osisko Metals was founded in 2017 and is based in Montreal, Quebec.


Deal Context for Buyer #
Overall 1 of 1
Sector: Metals/Mining 1 of 1
Type: Divestiture 1 of 1
State: Quebec 1 of 1
Country: Canada 1 of 1
Year: 2022 1 of 1
Size (of disclosed) 1 of 1

Seller Profile 1

SELLER

Glencore

Baar, Switzerland

Category Company
Founded 1974
Sector Metals/Mining
Employees84,146
Revenue 230.9B USD (2024)
DESCRIPTION

Glencore is a provider of physical commodities, including energy (oil and coal), base metals, soft commodities, and agriculture to industrial consumers. These commodities originate from Glencore's directly or indirectly owned production assets or are secured by Glencore from third parties. Glencore also provides financing, logistics, and other supply chain services to producers and consumers of commodities. Glencore was founded in 1974 and is based in Baar, Switzerland.


Deal Context for Seller #
Overall 7 of 8
Sector: Metals/Mining 2 of 2
Type: Divestiture 7 of 8
State: Quebec 1 of 1
Country: Canada 2 of 2
Year: 2022 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-13 Minera Altos de Punitaqui

Ovalle, Chile

Formed in 2010, Minera Altos de Punitaqui Limitada is a copper and gold mining company based in Ovalle, Chile.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-07 PolyMet

Saint Paul, Minnesota, United States

PolyMet is a mine development company. PolyMet was founded in 1998 Saint Paul, Minnesota.

Buy -