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Deals this week: Hancock Prospecting, Gold Fields, Atlas Iron and more

30 March 2012

Hancock Prospecting and a consortium comprising of POSCO, Marubeni Corp and STX Corp have entered into agreements to acquire a 30% equity interest in Roy Hill Holdings in Australia for A$3.5bn ($3.6bn).

The transaction is expected to close within 14 days.

Gold Fields has acquired a 40% stake in the gold-copper project in Luzon, the Philippines, by making the final payment of $110m, as per an agreement signed in September 2010.

The company made two payments of $44m and $66m in 2010 and 2011, for the stake valued at $220m.

Atlas Iron has entered into a binding heads of agreement contract to acquire the outstanding 25% stake in the iron ore rights of the Daltons joint venture (JV), from Haoma Mining for $33m.

The iron ore rights are located on the northern part of Atlas' wider Mount Webber DSO project in Northern Pilbara, Australia.

Randsburg International Gold Corp has signed a memorandum of understanding (MoU) to acquire a 100% interest in the Nathalie Phosphate project located in Quebec's North Shore for an undisclosed sum.

Under the terms of the MoU, Randsburg will acquire a 100% interest subject to a 2% NSR in 53 claims comprising of about 6300 acres.

Canada-based Bison Gold Resources said that it has acquired a Ross river gold project in Ontario, Canada for an undisclosed sum.

Bison intends to initiate the first phase of exploration on the Ross River Project immediately.