November 19, 2024
DOWA HOLDINGS CO., LTD.
DOWA METALS & MINING CO., LTD. (14-1, Sotokanda 4-Chome, Chiyoda-ku, Tokyo; Capital: 1 billion yen; President: FUKUDA Kensaku; hereinafter "DMM"), a subsidiary of DOWA HOLDINGS CO., LTD. (same location; Capital: 36.4 billion yen; President: SEKIGUCHI Akira), has resolved that its subsidiary, DOWA METALS & MINING ALASKA LTD. (hereinafter “DMM Alaska”), shall sell its 70.80% interest in Constantine Mining LLC (hereinafter "CML”) to Constantine North Inc. (hereinafter “CNI”), a wholly-owned subsidiary of American Pacific Mining Corp. (Capital: 69,267,936 Canadian Dollars; CEO and Director: Warwick Smith; hereinafter “APM”), as of November 16, 2024. In addition, in order to effect the transaction, the parties have signed the agreement on the same day.
DMM has been advancing the Palmer (Zinc-Copper) Exploration project in Alaska, USA, through DMM Alaska, which owned the interest of CML and the Palmer (Zinc-Copper) Exploration project since 2013. As part of DMM’s efforts to optimize the mining business portfolio for its Zinc refinery in Japan and with the objective of improving its resource suppy ratio, the transaction will occur pursuant to a transfer by DMM Alaska of the 70.80% of limited liability company membership interests it holds in CML to CNI, such that the joint venture between DMM Alaska and CNI will be terminated.
This transaction is considered to have a minor impact on the consolidated financial statements of DOWA HOLDINGS CO., LTD. for the fiscal year ending March 2025. If any requirement to make any amendments is identified, the information will be provided, in a timely manner.
[Date of Closing the Transaction]
by the end of November, 2024 (tentative)
Reference: Overview of Contribution Structure (at the date of November 16, 2024)
[Overview of DOWA METALS & MINING CO., LTD.]
1. Head office: 14-1, Sotokanda 4-Chome, Chiyoda-ku, Tokyo, Japan
2. Founded: May 2006
3. Capital: 1.0 billion yen
4. Representative: FUKUDA Kensaku (President and Representative Director)
5. Employees: Approx. 1,200 employees (DOWA METALS & MINING consolidated, as of March 31, 2024)
6. Shareholder: DOWA HOLDINGS CO., LTD. 100%
7. Business: Smelting business, resource development and raw material procurement business
[Overview of DOWA METALS & MINING ALASKA LTD.]
1. Head Office: 1090 West Georgia Street, Suite 1345, Vancouver, BC, V6E 3V7, Canada
2. Founded: April 2013
3. Capital: 82.2 MUSD
4. Representative: MURAOKA Hiroyasu (President and Representative Director)
5. Business: Resource development
[Overview of American Pacific Mining Corp.]
1. Head Office: 510 Burrard Street, Suite 910, Vancouver, BC, V6C 3A8, Canada
2. Founded: July 2017
3. Capital: 69,267,936 Canadian Dollars
4. Representative: Warwick Smith (CEO and Director)
[Overview of Constantine North Inc.]
1. Head Office: 1140 West Pender Street, Suite 1240, Vancouver, BC, V6E 4G1, Canada
2. Founded: February 1998
3. Representative: Peter Mercer (President, CEO and Director)
[Overview of Constantine Mining LLC]
1. Head Office: 510 Burrard Street, Suite 910, Vancouver, BC, V6C 3A8, Canada
2. Founded: June 2017
3. Representative: Peter Mercer
4. Shareholders: DOWA METALS & MINING ALASKA LTD. 70.80%, Constantine North Inc. 29.20%
