M&As this week: Abbot Point Operations, TomaGold Corporation
Adani Ports and Special Economic Zone’s (APSEZ) subsidiary Abbot Point Operations (APO) has reached an agreement to acquire Glencore Coal Queensland’s shares in Abbot Point BulkCoal (APB), the operations and maintenance provider for the Abbot Point Coal Terminal in Australia.
The acquisition provides APSEZ access to operate 50Mtpa capacity at the terminal, while Glencore has agreed to continue supplying coal for the terminal from its open-cut mines in Newlands and Collinsville.
TomaGold Corporation has signed a letter of intent to buy 100% stake in Red Metal Resources in cash and stock consideration.
Red Metal Resources owns or has the rights to own 100% stake in Farellon, Perth and Mateo projects in Chile.