AsiaPhos has terminated the sale and purchase agreement (SPA) it had entered into on Nov 12, 2020 with Mining and Minerals Industries Holding for the acquisition of the entire issued and paid-up share capital of MMJV.

MMJV is a Singapore-led gold and copper mining group of companies that hold controlling interests in three gold and copper mining concessions in the Philippines. 

Based on the SPA, the consideration for the proposed acquisition would have amounted to $72 million or 50% of an independent valuation, whichever lower.

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