Posted in | News | Copper | Mining Business

Stillwater Mining Completes Marathon PGM Acquisition

By Joel ScanlonDec 1 2010

Stillwater Mining Company has completed its acquisition of Marathon PGM Corp. Each common share of Marathon PGM was exchanged for 0.112 common shares of Stillwater Mining. The takeover was given an approval of 99.98% shareholders of Marathon PGM.

The acquisition then received the approval of the Ontario Superior Court of Justice and after that it was able to obtain the ministerial approval under the Investment Canada Act. The completion of the acquisition was undertaken in a plan of arrangement under the Canada Business Corporations Act.

The common shares of Marathon PGM will be delisted from the Toronto Stock Exchange from the close of trading on December 2 this year. The registered shareholders have been sent instructions in a circular dated October 15 about how to obtain the cash and certificates representing the shares after the acquisition.

Frank McAllister, Stillwater's Chairman and Chief Executive Officer, said that the Marathon PGM copper project would ensure that Stillwater remained North America’s leading PGM producer. The project location in Northwest Ontario in Canada and its copper resources fit nicely into the strategy of Stillwater Mining to enhance its growth.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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Scanlon, Joel. (2019, March 19). Stillwater Mining Completes Marathon PGM Acquisition. AZoMining. Retrieved on November 21, 2024 from https://www.azomining.com/News.aspx?newsID=1767.
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Scanlon, Joel. "Stillwater Mining Completes Marathon PGM Acquisition". AZoMining. 21 November 2024. <https://www.azomining.com/News.aspx?newsID=1767>.
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Scanlon, Joel. 2019. Stillwater Mining Completes Marathon PGM Acquisition. AZoMining, viewed 21 November 2024, https://www.azomining.com/News.aspx?newsID=1767.