100% IDM Votes Approve Blackstone Acquisition, Merger Set for June
IDM International shareholders have overwhelmingly approved Blackstone Minerals’ acquisition via a scheme of arrangement, setting the stage for a transformative merger in the copper-gold mining sector.
- IDM shareholders approve Blackstone acquisition by 100%
- Supreme Court hearing scheduled for June 17, 2025
- Scheme implementation expected by June 27, 2025
- Merger combines Blackstone’s Southeast Asia projects with IDM’s Mankayan copper-gold asset
- Trading of combined entity’s shares to resume June 30, 2025
Shareholder Approval Clears Major Hurdle
Blackstone Minerals Limited has secured a decisive endorsement from IDM International Limited’s shareholders for its proposed acquisition of IDM through a scheme of arrangement. The vote, held on June 10, 2025, saw 100% of votes cast in favour, reflecting strong investor confidence in the merger’s strategic merits.
This approval marks a critical milestone, but the transaction remains contingent on several conditions, most notably the upcoming Supreme Court of Western Australia hearing scheduled for June 17, 2025. The court’s sanction is required to legally effect the scheme and allow the merger to proceed.
Strategic Expansion in Copper-Gold Mining
The merger brings together Blackstone’s existing portfolio, including its Ta Khoa Nickel-Copper-PGE Project in Northern Vietnam, with IDM’s flagship Mankayan Copper-Gold Project in the Philippines. The Mankayan project is one of the largest undeveloped copper-gold porphyry deposits globally, situated in a prolific mineral district in Northern Luzon.
With the global demand for copper and gold intensifying; driven by renewable energy, electric vehicles, and infrastructure development; this consolidation positions Blackstone as a more significant player in Southeast Asia’s critical minerals landscape. The combined entity is expected to leverage synergies and enhance its appeal to potential joint venture partners and investors.
Timetable and Next Steps
Following court approval, the scheme’s effective date is anticipated on June 18, 2025, with the record date for shareholders set for June 20. Implementation of the merger is expected by June 27, and normal trading of Blackstone shares will resume on June 30, 2025.
Investors are encouraged to engage with Blackstone through its Investor Hub, which offers direct communication channels and updates. While the timetable is indicative and subject to change, the company has committed to transparency and timely announcements should any adjustments arise.
Legal and Regulatory Considerations
The scheme remains subject to the Independent Expert’s continued endorsement and the satisfaction or waiver of other conditions outlined in the Scheme Implementation Deed. These safeguards aim to protect shareholder interests and ensure the merger’s integrity.
Market participants will be watching closely for the Supreme Court’s ruling, which will ultimately determine whether this significant consolidation in the copper-gold sector moves forward as planned.
Bottom Line?
With shareholder approval secured, all eyes now turn to the court’s verdict that will unlock Blackstone’s expanded mining ambitions.
Questions in the middle?
- Will the Supreme Court approve the scheme without modifications?
- How will Blackstone integrate IDM’s Mankayan project operationally and financially?
- What are the implications for Blackstone’s search for a joint venture partner at Ta Khoa?
