[Ferro-Alloys.com] 

Stillwater Critical Minerals welcomes Glencore as major investor

Stillwater Critical Minerals (TSXV: PGE) has welcomed Glencore Canada as a major investor to help advance its portfolio of nickel exploration and development projects in North America.

The parties have executed a definitive agreement for a private placement, under which Glencore would purchase C$4.94 million worth of Stillwater units, each priced at C$0.25. Upon completion, Glencore would hold a 9.99% equity interest in Stillwater (on a non-diluted basis).

The Stillwater West project is located in Montana’s Stillwater district, considered one of the world’s largest and highest-grade PGE (platinum group elements)-nickel-copper regions. It is adjacent to the high-grade PGE mines held by South Africa’s Sibanye-Stillwater with over 14 million oz. of past production.

A mineral resource estimate update for Stillwater West earlier this year defined 1.6 billion lb. of nickel, copper and cobalt and 3.8 million oz. of palladium, platinum, rhodium and gold within a constrained model totalling 255 million tonnes at an average grade of 0.39% nickel equivalent.

• [Editor:邢亚敏]