Teck American to sell Utah’s Apex Mine to Blue Moon Metals

Teck Resources’ subsidiary Teck American has agreed to transportation afloat ownership of the Apex excavation successful Utah, US, to Blue Moon Metals.

This mine, which antecedently produced germanium, gallium and copper, is acceptable to heighten Blue Moon's portfolio of captious mineral projects aimed astatine bolstering North American proviso chains.

The woody strengthens Blue Moon's existing concern with Hartree Partners, a cardinal collaborator with the US Government connected the precocious unveiled $12bn captious metals stockpile initiative.

Both Blue Moon and Teck signed a merchantability and acquisition statement successful February 2026, with completion expected by March.

As portion of the agreement, Blue Moon volition summation afloat ownership of the Apex mine, encompassing 26 patented and 9 unpatented claims implicit 250 hectares (ha).

In exchange, Blue Moon volition contented 7,031,959 communal shares to Teck, representing 8% of its outstanding shares astatine the clip of the announcement.

Additionally, Teck volition person a 0.5% nett smelter returns (NSR) royalty connected the spot and a capped royalty of $1m (C$1.37m), escaped from different encumbrances.

Immediate synergies see imaginable processing of zinc concentrates from Blue Moon's California-based Blue Moon Mine astatine Teck's Trail Operations successful Canada, arsenic good arsenic plans to redevelop the Apex excavation to unafraid an onshore root of germanium and gallium.

Additionally, determination are considerations for restarting the permitted Springer tungsten excavation successful Nevada, US, to fulfil home requirements and grow captious mineral processing capabilities.

Blue Moon owns the advanced-stage Blue Moon Mine successful California, which has humanities accumulation records from the mid-20th period and has undergone caller evaluations to enactment a restart.

The institution received permits successful April 2025 and began constructing an exploration diminution successful October the aforesaid year.

Production is expected to commence successful 2028, with ongoing method enactment aimed astatine processing materials astatine Blue Moon's Springer analyzable successful Nevada.

Blue Moon CEO Christian Kargl-Simard said: “Underground improvement astatine the Blue Moon Mine is advancing well, which unneurotic with the acquisition of the Apex Mine and our redevelopment of the Springer metallurgical analyzable and Springer tungsten mine, provides a unsocial hub and spoke level for US captious metals growth.

“Teck and Blue Moon are logical partners, combining Blue Moon's US task pipeline and processing capableness astatine Teck's Trail Operations. We are excited to leverage our combined infrastructure, manufacture starring method know-how, and financing extent to beforehand our US home copper, zinc, tungsten and present germanium and gallium projects to supply semipermanent provender for our Springer complex.”