Deals this week: Hindustan Copper, LSC Lithium, Northam Platinum


The Indian Government has announced its plan to raise gross proceeds of Rs2.4bn ($37.33m) by selling its 4% stake in Hindustan Copper Limited (HCL).

The sale will include a private offering of more than 37 million equity shares each priced at Rs64.75 ($1).

HCL is engaged in the production of copper.

Canada-based LSC Lithium has reached an agreement to raise C$20m ($16.01m) in a private placement of common shares.

"The debt facility is intended for the development of the Pilgangoora Lithium project in Western Australia, which is currently in an advanced stage."

LSC produces lithium-rich salars and development of tenements.

The company has engaged GMP Securities as the transaction broker.

Northam Platinum has agreed to buy platinum group metals (PGM) recycling equipment and the associated premises from A-1 Specialized Services for $10.7m in an all-cash deal.

Northam Platinum is a PGM producing company based in South Africa, while A-1 is a US-based company engaged in the recycling of PGMs.

Altura Mining has signed a loan note subscription agreement (LNSA) with Magy, Pala Investments and CarVal Investors to obtain a $110m senior debt facility.

Funding will be provided to Altura in two tranches, including the first tranche of approximately $33m in the first week of August and the second tranche before 27 September.

The debt facility is intended for the development of the Pilgangoora Lithium project in Western Australia, which is currently in an advanced stage.