Australian Foreign Investment Review Board Approves Metals Acquisition Corp’s Acquisition of the CSA Copper Mine
06 Septembre 2022 - 1:00PM
Business Wire
Metals Acquisition Corp. (NYSE: MTAL.U):
- Metals Acquisition Corp. (NYSE: MTAL.U) (“MAC”) is pleased to
announce that it has received approval from the Australian Foreign
Investment Review Board (“FIRB”) of its proposed acquisition of the
CSA Copper Mine (“CSA”), subject to customary tax and reporting
obligations
- No Objection from FIRB approval is a Condition Precedent to the
acquisition of CSA from Glencore as announced by MAC on March 17,
2022
Commentary
Mick McMullen, MAC CEO, said: "We are pleased to have satisfied
this Condition Precedent under the CSA acquisition agreement as we
work towards obtaining shareholder approval and finalizing the
transaction.
MAC’s status as a foreign investor under Australian law,
together with the nature of the assets being acquired from
Glencore, necessitated the acquisition of CSA being subject to
regulatory review in accordance with the Australian Foreign
Acquisitions and Takeovers Act 1975 (Cth). The Treasurer of the
Commonwealth of Australia, acting through the Australian
government’s FIRB organization, has confirmed that there is No
Objections to the transfer of CSA and associated land so that it
will be under the control and ownership of MAC. Conditions attached
to the No Objection are standard and involve post-Closing tax and
reporting obligations.
Since our March 17th announcement, MAC has deepened its
understanding of CSA. We remain convinced that CSA is a strong
strategic fit for MAC and that our team has the skills necessary to
realize its full potential. We believe CSA provides us with an
ideal cornerstone asset with which to establish a high-quality,
mid-tier base metals portfolio.”
CSA is a producing, high-grade, underground copper mine located
in the Tier 1 mining jurisdiction of western New South Wales,
Australia. It has been in operation since 1967.
About Metals Acquisition Corp.
MAC was formed as a blank check company for the purpose of
effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with
one or more businesses. The Company is led by Mick McMullen (Chief
Executive Officer), Jaco Crouse (Chief Financial Officer) and Dan
Vujcic (Chief Development Officer). The Company is focused on
green-economy metals and mining businesses in high quality, stable
jurisdictions.
Important Information About the Proposed Business Combination
and Where to Find It
In connection with the proposed business combination, MAC
intends to file a registration statement, including a proxy
statement/prospectus with the SEC. MAC's shareholders and other
interested persons are advised to read, when available, the proxy
statement/prospectus as well as other documents filed with the SEC
in connection with the proposed business combination, as these
materials will contain important information about CSA, MAC, and
the proposed business combination. When available, the proxy
statement/prospectus and other relevant materials for the proposed
business combination will be mailed to shareholders of MAC as of a
record date to be established for voting on, among other things,
the proposed business combination. Shareholders will also be able
to obtain copies of the proxy statement/prospectus and other
documents filed with the SEC that will be incorporated by reference
therein, without charge, once available, at the SEC's website at
www.sec.gov, or by directing a request to:
investors@metalsacqcorp.com. The information contained on, or that
may be accessed through, the websites referenced in this
communication is not incorporated by reference into, and is not a
part of, this communication.
Participants in the Solicitation
MAC and its directors and executive officers may be deemed
participants in the solicitation of proxies from MAC's shareholders
with respect to the business combination. MAC stockholders and
other interested persons may obtain, without charge, more detailed
information regarding the directors and officers of MAC in MAC’s
final prospectus filed with the SEC on July 30, 2021 in connection
with MAC’s initial public offering. Information regarding the
persons who may, under SEC rules, be deemed participants in the
solicitation of proxies to MAC’s shareholders in connection with
the proposed business combination will be set forth in the proxy
statement/prospectus for the proposed business combination when
available. Additional information regarding the interests of
participants in the solicitation of proxies in connection with the
proposed business combination will be included in the proxy
statement/prospectus that MAC intends to file with the SEC.
No Offer or Solicitation
This press release shall not constitute a solicitation of a
proxy, consent, or authorization with respect to any securities or
in respect of the proposed business combination. This press release
shall also not constitute an offer to sell or the solicitation of
an offer to buy any securities, nor shall there be any sale of
securities in any states or jurisdictions in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended, or an exemption therefrom.
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Mick McMullen Chief Executive Officer Metals Acquisition Corp.
+1 (817) 698-9901
Dan Vujcic Chief Development Officer Metals Acquisition Corp.
+61 451 634 120
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