Sweden-based Atlas Copco has reached an agreement to acquire Rockdrill Services Australia.
The acquiring company is engaged in the supply of sustainable productivity solutions to construction and mining equipment, power tools, and assembly systems, while the target company manufactures rock drills and drill parts required for mining and rock excavation.
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Tanga Resources (formerly Argentina Mining) has reached an agreement to acquire a 100% stake in Coldstone Investments.
Coldstone currently holds a 10% equity interest in the Joumbira Zinc Project in Namibia, while the remaining is held by Epangelo Mining, a Namibian state-owned company. Coldstone has an option to increase its equity interest from 10% to 80% by investing a minimum of $1m over the next two years.
Tanga will issue 44 million fully paid shares each priced at A$0.01 ($0.07) to raise A$440,000 ($330,000) under the agreement.
The company has also agreed to make deferred payments of A$250,000 ($180,000) upon the announcement of the maiden JORC Indicated Mineral Resource Estimate at Joumbira, A$150,000 ($110,000) on receiving mining licence, and A$350,000 ($260,000) when announcing a decision to mine.
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By GlobalDataBased in Australia, Tanga Resources is a gold and copper exploring company, while Coldstone Investments is based in Namibia.
King Stone Energy Group has agreed to acquire a 100% stake in South Bay Investment from Liyanda, a UK-based company. South Bay Investment owns one mining permit and three exploration permits in Inner Mongolia, China.
As part of the agreement, King Stone Energy will pay CNY70m ($10.57m) as earnest money to the vendor, in addition to paying up to CNY30m ($4.53m) to meet the operating expenses and/or capital expenditure of the target company.
The acquiring company is an investment holding company based in Hong Kong, while the target company is a UK-based company engaged in the mining and processing of non-ferrous metals in China.
