en.Wedoany.com Reported - Recently, Canada's Blue Moon Metals Inc. and Luxembourg's Alpha Future Funds S.C.S. (AFF) signed a binding agreement to consolidate their copper-gold mining assets in Norway's Sulitjelma Mining District. Under the agreement, AFF's wholly-owned subsidiary, VMS Explorations AS, will acquire 100% of the shares of Blue Moon Metals' Nye Sulitjelma Gruver AS (NSG) for a share consideration of $15 million. Upon completion of the transaction, Blue Moon Metals will hold a 30% stake in the combined company.

The Sulitjelma mining district, located in the city of Fauske, Norway, is a historic copper-gold mining area. Over its approximately 100 years of mining history, it has produced over 470,000 tonnes of copper and about 130,000 ounces of gold. The district has well-established surface and underground infrastructure and access to ample clean hydropower resources. Both parties stated that the asset consolidation will enable integrated development of mines, transportation, and processing facilities, prioritizing the extraction of high-grade ore sections to improve project economics. This move aims to accelerate feasibility studies, financing, and listing processes, promote the project's rapid commissioning, and expand high-grade resource scale through further exploration. The transaction is expected to close around November 30, 2026.