This Morning in Metals: Barksdale Resources to acquire Sunnyside copper-lead-zinc-silver project in Arizona

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This morning in metals news: Barksdale Resources announced it will acquire 100% of the Sunnyside copper-lead-zinc-silver project in Arizona; meanwhile, Cleveland-Cliffs signs have gone at the former ArcelorMittal Burns Harbor steel mill; and, lastly, the Biden administration has approved the first large-scale offshore wind power project in US waters.

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Barksdale to acquire Sunnyside project

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Sunshine Seeds/Adobe Stock

Vancouver-based Barksdale Resources Inc. announced it will acquire 100% of the Sunnyside copper-lead-zinc-silver project in Arizona from Regal Resources Inc.

“The Transaction allows Regal shareholders to participate in a larger, more liquid company that not only holds the consolidated Sunnyside project, but also the 100% owned San Antonio, Goat Canyon, and Canelo copper porphyry exploration projects near Sunnyside as well as the San Javier copper-gold project in Sonora, Mexico,” Barksdale said in a release.

The transaction still requires regulatory approval, in addition to approval by Regal shareholders.

Cliffs signs up at Burns Harbor mill

In December, Cleveland-Cliffs closed on its acquisition of most of ArcelorMittal’s North American assets.

This week, new Cliffs signs have gone up at the Burns Harbor steel mill in Indiana, the Times of Northwest Indiana reported.

Cleveland-Cliffs CEO Lourenco Goncalves said the firm has hired more than 710 steelworkers at the mill since it took over, per the report.

Biden administration approves offshore wind project

In energy news, the Biden administration has given the green light to the nation’s first major offshore wind project in US waters.

The Vineyard Wind project is expected to provide 800 megawatts of power. The project will be 12 nautical miles offshore from Martha’s Vineyard.

“A clean energy future is within our grasp in the United States. The approval of this project is an important step toward advancing the Administration’s goals to create good-paying union jobs while combatting climate change and powering our nation,” Secretary of the Interior Deb Haaland said.

Meanwhile, in March, the Biden administration announced a target of deploying 30 gigawatts of offshore wind power by 2030.

“Meeting this target will trigger more than $12 billion per year in capital investment in projects on both U.S. coasts, create tens of thousands of good-paying, union jobs, with more than 44,000 workers employed in offshore wind by 2030 and nearly 33,000 additional jobs in communities supported by offshore wind activity,” the White House said. “It will also generate enough power to meet the demand of more than 10 million American homes for a year, and avoid 78 million metric tons of CO2 emissions.”

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