Pan African Resources to acquire Australia’s Emmerson Resources in an all-share transaction valuing the company at about A$311 million

The acquisition will proceed through an Australian court-approved scheme of arrangement and requires approval from at least 75% of votes cast by Emmerson shareholders at a meeting expected in mid-to-late June 2026. 

Emmerson Resources shareholders will receive 0.1493 new Pan African shares for each Emmerson share they hold, issued as CHESS Depositary Interests (CDIs), so the foreign-listed shares can trade on the Australian Securities Exchange.

Pan African chief executive Cobus Loots said the acquisition is a logical next step that will allow the company to optimize project sequencing and capital allocation across Tennant Creek.

The transaction consolidates Pan African’s control of the Tennant Creek mineral field in Australia’s Northern Territory, where the companies already operate a joint venture in which Pan African holds 75% and Emmerson owns the remaining 25%. Pan African entered the partnership when it acquired the Tennant Consolidated Mining Group in 2024.