Teck Resources subsidiary Teck American has agreed to transfer full ownership of the Apex mine in Utah, US, to Blue Moon Metals.
The mine, which previously produced germanium, gallium and copper, is set to enhance Blue Moon’s portfolio of key minerals projects aimed at strengthening North American supply chains.
The agreement strengthens Blue Moon’s existing relationship with Hartree Partners, a key partner with the US Government in the recently launched $12bn initiative to collect precious metals.
Both Blue Moon and Teck signed a sale and purchase agreement in February 2026, which will be finalized in March.
As part of the agreement, Blue Moon will acquire full ownership of the Apex mine, which includes 26 patented and nine unpatented claims in excess of 250 hectares (ha).
In exchange, Blue Moon will issue 7,031,959 common shares to Teck, representing 8% of its outstanding shares at the time of the announcement.
In addition, Teck will receive 0.5% of net smelter returns (NSR) on the property and a capped royalty of $1m (C$1.37m), free of other encumbrances.
The immediate agreements include the possible processing of zinc concentrates from Blue Moon’s California-based Blue Moon Mine at Teck’s Trail Operations in Canada, and plans to develop the Apex mine to secure an onshore source of germanium and gallium.
Additionally, there is consideration of restarting the Springer tungsten mine permitted in Nevada, US, to meet domestic needs and increase significant mineral processing capabilities.
Blue Moon owns the advanced stage Blue Moon Mine in California, which has a production history dating back to the mid-20th century and has recently been tested to support restart.
The company received permits in April 2025 and began constructing a test landing in October of the same year.
Production is expected to begin in 2028, with ongoing technical work aimed at processing materials at Blue Moon’s Springer complex in Nevada.
Blue Moon CEO Christian Kargl-Simard said: “Underground development at the Blue Moon Mine is well underway, combined with the acquisition of the Apex Mine and our redevelopment of the Springer metallurgical complex and the Springer tungsten mine, providing a unique platform and platform for growth in the US precious metal.”
“Teck and Blue Moon are logical partners, combining Blue Moon’s US project pipeline with the processing capabilities of Teck’s Trail Operations. We are excited to leverage our combined infrastructure, industry-leading technological know-how, and financial depth to develop our domestic US copper, zinc, tungsten and now germanium and gallium projects to supply our Spring-term complex projects.”
