Blackstone to Acquire IDM with 64% Stake in Mankayan Project After Court Approval
Blackstone Minerals has received Supreme Court approval to acquire IDM International, gaining control of the significant Mankayan copper-gold project in the Philippines. The scheme is set to become effective mid-June, marking a strategic expansion for Blackstone in Southeast Asia's critical minerals sector.
- Supreme Court of Western Australia approves Blackstone's acquisition of IDM International
- Scheme to become legally effective upon ASIC lodgement on 18 June 2025
- Blackstone gains 64% ownership of the Mankayan copper-gold project in the Philippines
- Key dates, record date 20 June, implementation 27 June, trading resumes 30 June
- Blackstone seeks JV partner for its Ta Khoa Nickel-Copper-PGE project in Vietnam
Court Approval Clears Path for Blackstone-IDM Merger
Blackstone Minerals Limited has reached a pivotal milestone with the Supreme Court of Western Australia granting approval for its scheme of arrangement to acquire 100% of IDM International Limited. This legal endorsement is a critical step in consolidating IDM’s assets under Blackstone’s umbrella, notably the prized Mankayan copper-gold project in the Philippines.
The scheme is expected to become legally effective upon lodgement of the court orders with the Australian Securities and Investment Commission (ASIC) on 18 June 2025. Following this, key dates include the record date on 20 June, implementation on 27 June, and the resumption of normal trading of Blackstone shares on 30 June. These milestones set the timeline for investors and stakeholders to anticipate the formal integration of IDM into Blackstone’s portfolio.
Strategic Expansion into a World-Class Copper-Gold District
IDM International holds a 64% interest in the Mankayan copper-gold project, one of the largest undeveloped copper-gold porphyry deposits globally. Located in Northern Luzon, the project benefits from a 25-year mining license renewed in 2022, positioning it as a long-term asset in a mineral-rich district renowned for significant copper and gold deposits.
For Blackstone, which has historically focused on critical minerals exploration in Southeast Asia, including its Ta Khoa Nickel-Copper-PGE project in Vietnam, this acquisition represents a strategic diversification and scale-up. The Mankayan project aligns with rising global demand for copper, driven by the transition to renewable energy, electric vehicles, and infrastructure development.
Looking Ahead, Integration and Growth Prospects
While the court approval clears a major regulatory hurdle, the success of this merger will depend on the seamless integration of IDM’s assets and management into Blackstone’s operations. Blackstone has also indicated its intent to find a joint venture partner for the Ta Khoa project, suggesting a dual focus on advancing both copper-gold and critical minerals assets.
Market participants will be watching closely as Blackstone resumes trading post-merger, assessing how the combined entity leverages its expanded resource base and navigates the complexities of mining development in Southeast Asia and the Philippines.
Bottom Line?
With court approval secured, Blackstone’s acquisition of IDM sets the stage for a transformative growth phase in copper-gold mining.
Questions in the middle?
- What are Blackstone’s detailed plans for developing the Mankayan copper-gold project post-acquisition?
- How will Blackstone’s search for a joint venture partner at Ta Khoa impact its capital and operational strategy?
- What financial implications and integration challenges might arise from merging IDM’s assets into Blackstone?
