From Yahoo Finance: 2025-04-04 10:16:00

Metals One has agreed to acquire FinnAust Mining Finland from 80 Mile, gaining access to the Hammaslahti and Outokumpu copper projects in Finland. The deal will boost Metals One’s copper exposure in a Tier-1 jurisdiction, with plans to drill test Hammaslahti and advance surveys at Outokumpu.

80 Mile will retain rights to industrial gases associated with the projects. Metals One CEO Jonathan Owen sees potential for significant value appreciation through exploration. Board changes are expected post-transaction, pending regulatory approval in Finland and consent from net smelter royalty holders.

80 Mile’s Eric Sondergaard views the divestment as a step towards focusing on emerging energy commodities. The Hammaslahti project boasts significant mineralisation history, while Outokumpu offers potential high-grade copper deposits. Bluejay had previously divested its Finnish projects to Metals One in July 2021.

The acquisition of FinnAust Mining Finland by Metals One from 80 Mile marks a strategic move in the copper exploration sector. With promising projects in hand, Metals One aims to unlock significant value through exploration and development efforts.

Read more: Metals One to acquire FinnAust Mining Finland from 80 Mile