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Deals this week: Caterpillar Inc, Lundin Mining Corp, Magnum Mining and more

13 April 2012

Mining equipment manufacturer Caterpillar has signed an agreement to sell its Bucyrus distribution and support business to WesTrac, a wholly owned subsidiary of Seven Group Holdings for about $400m.

The transaction, subject to customary closing conditions, is expected to close by 30 June 2012.

Lundin Mining Corp has entered into a purchase option agreement to acquire a majority stake in the Touro copper project for about €60m.

The Copper project is located in northern Spain and owned by two private Spanish companies.

Timberline Resources Corp has signed a non-binding letter of intent (LOI) to increase its ownership stake in the Butte Highlands Gold Project from 50% to 100%.

The company will acquire the remaining interest from its joint venture partner, Highland Mining, for about $7m.

The deal is expected to close in the second quarter of 2012, subject to standard closing conditions and regulatory approvals.

Equinox Exploration Corp has entered into a definitive agreement with Mineral Pro to acquire 100% of its Chilean subsidiary, Mineral Pro Chile, SPA.

Under the terms of the agreement, Equinox will gain a 100% interest in the Aura Mining Lease by making total cash payments of $250,000 over five years, with $50,000 due upon signing of the definitive agreement, and $50,000 due every year for the next four years.

NioGold Mining Corp has entered into a property acquisition and joint venture agreement with Republic Goldfields to acquire an 85% interest in RGF's Malartic property.

The property consists of six mining claims and one mining concession located approximately 20km west of Val-d'Or, Quebec.