# AIC Mines and Demetallica to merge into new copper and gold mining company

AIC Mines agreed to acquire Demetallica via a share swap, combining AIC's Eloise mine and processing facility with Demetallica's Jericho copper deposit in Queensland, Australia. Demetallica shareholders will own about 21% of the combined company.

- Type: Acquisition
- Announced: 2022-11-07
- Where: Queensland, Australia
- Status: announced
- Products: copper, gold
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [AIC Mines](https://endata.com/companies/66470.md) (acquirer)
- [Demetallica](https://endata.com/companies/66471.md) (target)

## Sources

- [australianmining.com.au](https://www.australianmining.com.au/aic-demetallica-consolidate-into-new-company/), 2022-11-07: "Given the uniqueness of the situation, in terms of the assets so plainly being worth more together than they are individually, we have strong support for the transaction from a large number of our shareholders."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.