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Deals this week: Aneka Tambang, Uragold, Centurion Minerals and more

7 December 2012

Indonesian firm Aneka Tambang has agreed to acquire a 7.5% interest in domestic company Nusa Halmahera Minerals from Australia-based Newcrest Mining for $160m.

The deal, once completed, will raise Antam's stake in the company to 25%.

Nusa Halmahera owns rights to the 29,622ha Gosowong gold concessions, which contain six million oz of gold reserves in North Maluku.

Canada-based exploration company Uragold Bay Resources has closed the previously-announced agreement to sell its 100%-interest in Asbury graphite claims for a cash consideration of C$300,000 ($302,595) and five million common shares to Canada Carbon.

The company plans to reopen the mine within 12 to 14 months.

Uragold president and COO Patrick Levasseur stated, "As a large shareholder of Canada Carbons, Uragold supports Canada Carbon management's objective of re-opening the Asbury Graphite mine."

Centurion Minerals and private mining company GPM Asia have signed a strategic alliance agreement, wherein the companies will together negotiate acquisition and development strategies in Myanmar and advance Centurion's Aceh, Indonesia projects.

As per the agreement, GPM Asia will make a private placement of up to five million shares into Centurion at a price of $0.10 a share.

Asian market equity sub-fund Gale 3 Spl Ltd has purchased a 8.73% stake, or a little over 27.7 million shares, in Paramount Mining Corporation, an Australian mineral resource exploration and development company.

Paramount owns a 72.25% interest in the Gunung Rosa gold-silver-base metals project containing total inferred resource of 634,000oz of gold.