SSR-Alacer merger gets final approval
Alacer Gold (TSX: ASR) announced on Friday that it has obtained a final order from the Supreme Court of Yukon approving the merger with SSR Mining (TSX: SSRM).
In May, Vancouver-based SSR Mining agreed to a deal to acquire its Canadian counterpart in an all-stock, zero-premium deal valued at C$2.4 billion ($1.7 billion).
Pursuant to the transaction, shareholders of Alacer will receive 0.3246 SSR Mining shares for each Alacer share held.
The business combination would see Alacer’s flagship Çöpler mine in Turkey added to SSR’s existing portfolio that includes the Marigold gold mine in Nevada, the Seabee gold operations in Saskatchewan and the Puna operations in Jujuy, Argentina.
The combined company would be estimated to produce an average of 780,000 gold equivalent ounces at ~$900/oz all in sustaining costs (AISC) over the next three years.
Alacer’s stock was trading up 3% on the TSE midday Friday. The company’s market value is C$2.7 billion.
SSR’s stock traded up 2.6% on the TSE midday Friday. The company’s market value is C$3.6 billion.
What is manganese steel?
Manganese steel, also called Hadfield steel or mangalloy, is a steel alloy containing 12-14% manganese. Renowned for its high impact strength and resistance to abrasion in its hardened state, the steel is often described as the ultimate work hardening steel.
Standard Composition Ranges For Manganese Steel Castings ( ASTM A128)
| Grade | C | Si | Mn | P ≤ | Cr | Ni | Mo | |
| ASTM | UNS | |||||||
| A | J91109 | 1.05~1.35 | ≤1.00 | ≥11.0 | 0.07 | － | － | － |
| B-1 | J91119 | 0.9~1.05 | ≤1.00 | 11.5~14.0 | 0.07 | － | － | － |
| B-2 | J91129 | 1.05~1.2 | ≤1.00 | 11.5~14.0 | 0.07 | － | － | － |
| B-3 | J91139 | 1.12~1.28 | ≤1.00 | 11.5~14.0 | 0.07 | － | － | － |
| B-4 | J91149 | 1.2~1.35 | ≤1.00 | 11.5~14.0 | 0.07 | － | － | － |
| C | J91309 | 1.05~1.35 | ≤1.00 | 11.5~14.0 | 0.07 | 1.5~2.5 | － | － |
| D | J91459 | 0.7~1.3 | ≤1.00 | 11.5~14.0 | 0.07 | － | 3.0~4.0 | － |
| E-1 | J91249 | 0.7~1.3 | ≤1.00 | 11.5~14.0 | 0.07 | － | － | 0.9~1.2 |
| E-2 | J91339 | 1.05~1.45 | ≤1.00 | 11.5~14.0 | 0.07 | － | － | 1.8~2.1 |
| F | J91340 | 1.05~1.35 | ≤1.00 | 6.0~8.0 | 0.07 | － | － | 0.9~1.2 |
Which are Manganese Steel Casting Parts?
Because of itself hardening properties, manganese steel has been used in the mining industry for many years – cement mixers, rock crushers, crawler treads for tractors, elevator, and shovel buckets – as well as in the rail industry (switches and crossings) and other high impact environments.
Up until recently, manganese steel was used in the window bars in prisons as it makes light work of chewing up the hacksaw blades of potential escapees. Nowadays the steel is often used in safes, bulletproof cabinets, and anti-drill plates.
H&G Machinery manganese steel casting parts include:
- Jaw crusher wear parts. Jaw plates, side plate, cheek plates
- Cone crusher wear parts. Cone liners and bowl liners
- Apron feeder pan.
- Shredder wear parts. shredder hammer, shredder grates, and other shredder parts
- Mill liners
@Nick Sun NICK@XZHUAGANG.COM
Post time: Jul-24-2020