Welcome to our dedicated page for PolyMet Mining news (Ticker: $PLM), a resource for investors and traders seeking the latest updates and insights on PolyMet Mining stock.
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Rhea-AI Summary
PolyMet Mining Corp. completes the acquisition of minority shares by Glencore AG, with each minority share acquired for US$2.11 in cash. PolyMet has applied to delist from the Toronto Stock Exchange and NYSE American and cease to be a reporting issuer under Canadian securities laws.
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PolyMet Mining Corp. announces that the Supreme Court of British Columbia has granted the final order for the statutory plan of arrangement with Glencore AG. Glencore will acquire the remaining 17.82% of PolyMet's common shares for US$2.11 per share. The arrangement was approved by the shareholders and is expected to be completed soon.
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Rhea-AI Summary
PolyMet Mining Corp. announces approval of the plan of arrangement with Glencore AG. Shareholders voted in favor of the acquisition by Glencore of all outstanding common shares of PolyMet. The arrangement will be completed on November 7, 2023, subject to court approval and other closing conditions.
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PolyMet Mining Corp. is urging shareholders to vote in favor of the plan of arrangement with Glencore AG. The arrangement involves Glencore acquiring the minority shares of PolyMet for $2.11 per share. Shareholders are encouraged to vote before the proxy deadline on October 30, 2023.
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Rhea-AI Summary
PolyMet Mining Corp. announces unanimous support from the Board of Directors for Glencore AG's acquisition of the remaining 17.8% of issued shares at a 167% premium to the unaffected share price. The Consideration is $2.11 in cash per share. The Board recommends that Minority Shareholders vote in favor of the resolution at the Special Meeting of Shareholders. The Arrangement provides certainty of value and removes risk. The completion of the Arrangement is anticipated to take place shortly after the Special Meeting.
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Rhea-AI Sentiment
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0.48%
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Rhea-AI Summary
PolyMet Mining Corp. announced that the Supreme Court of British Columbia has granted an interim order in connection with Glencore AG's plan to acquire the minority shares of the company. The purchase price of US$2.11 per share reflects a 167% premium to PolyMet's closing price on June 30, 2023. The Board of Directors unanimously determined that the arrangement is in the best interests of the company. The Special Meeting of shareholders will be held on November 1, 2023. The completion of the arrangement is subject to shareholder approval and final court approval.
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Rhea-AI Summary
PolyMet Mining Corp. has entered into a definitive agreement with Glencore AG for Glencore to acquire the approximately 17.8% of the issued and outstanding common shares of PolyMet that Glencore does not currently own. The transaction offers a significant premium of 167% to the unaffected share price on June 30, 2023. It provides immediate liquidity and certainty of value for shareholders. The transaction is expected to close shortly after the shareholder meeting, which is expected to occur in the late third quarter or early fourth quarter of 2023.
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PolyMet Mining Corp. receives a non-binding proposal from Glencore AG to acquire all outstanding shares of PolyMet at a premium price of US$2.11 per share.
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PolyMet Mining Corp. re-elected Jon Cherry as chairman and re-appointed Al Hodnik as lead independent director. At the Annual General Meeting of Shareholders, 90.75% of eligible shares were represented and all motions put forward by the company were passed. Key achievements include a successful completion of a joint venture with Teck Resources and a rights offering of common shares raising $195 million.
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PolyMet Mining Corp.
NYSE:PLM
PLM Rankings
PLM Stock Data
408.37M
33.78M
82.46%
2.72%
0.05%
Dimension Stone Mining and Quarrying
Mining, Quarrying, and Oil and Gas Extraction
Canada
Toronto
About PLM
polymet mining corp. is a canadian mine development company focused exclusively on the northmet copper-nickel-precious metals project through its wholly owned subsidiary, poly met mining, inc., a minnesota corporation. polymet’s corporate office is in toronto, canada with executive offices in st. paul and operational headquarters in hoyt lakes, minnesota. through a long-term lease, the company controls the northmet copper-nickel-precious metals ore body. the deposit is located in the mesabi range, northeastern minnesota’s established mining district, and stretches approximately 2.5 miles. polymet also owns and will refurbish and reuse the erie plant, a former taconite processing facility located some six miles from the deposit. the northmet project is in the midst of a comprehensive environmental review and permitting process to develop a new mine and restore an existing mining facility. polymet’s proposal includes using modern mining techniques to minimize environmental impacts while