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Title
Minnesota merger; Duluth Metals to acquire Franconia Minerals for $75 million.
Abstract
The article reports on the plan of Duluth Metals to acquire Franconia Minerals. The planned merger deal, which is valued at 75 million U.S. dollar, is expected to consolidate control over two large ore deposits at Duluth Complex in Ely, Minnesota. Expected to strengthen the position of Chilean mining company Antofagasta PLC in the U.S. market, the company will finance the merger deal and would increase its stake in Duluth Metals.