ACG Metals to Acquire Blue Moon Norway for $220 Million
ACG Metals has agreed to acquire Blue Moon Norway, including the Nussir copper mine, to expand its European production capacity.
London-based ACG Metals has signed an agreement to purchase 100% of Blue Moon Norway AS for $220 million in shares. The transaction includes a 94.52% interest in the Nussir copper mine, a project currently in the construction phase, alongside other development assets in Norway.
The Nussir mine is designated as an EU Strategic Project under the Critical Raw Materials Act. The project is scheduled to deliver its first copper concentrate during the first half of 2028. Once operational, ACG expects the site to produce approximately 18,400 tonnes of copper-equivalent annually between 2029 and 2033.
This acquisition integrates the Norwegian assets with ACG’s existing operations at the Gediktepe mine in Türkiye, which is expected to reach full capacity in 2027. The combined entity aims to produce more than 50,000 tonnes of copper-equivalent per year. Completion of the deal remains subject to shareholder approval and customary regulatory clearances.
ACG CEO Artem Volynets stated that the acquisition aligns with the company’s goal to bolster European supply chains. Following the completion of the deal, ACG intends to pursue a secondary listing in North America within 12 months.