Deals this week: Rio Tinto, Newcrest Mining, MSP Engineering

14 December 2018 (Last Updated December 14th, 2018 10:11)

Rio Tinto has awarded a $45m contract to Pindan to build a 780-room accommodation camp for the Koodaideri iron ore project in Pilbara, Australia.

Rio Tinto has awarded a $45m contract to Pindan to build a 780-room accommodation camp for the Koodaideri iron ore project in Pilbara, Australia.

Pindan will initially construct 252 rooms and additional facilities, followed by the remaining 528 rooms.

Rio Tinto is a UK-based metals and mining company, while Australian firm Pindan is focused on property and construction.

Newcrest Mining and Harmony Gold Mining have signed a memorandum of understanding (MoU) with the Government of Papua New Guinea (PNG) confirming the parties’ intent to proceed with the Wafi-Golpu project development.

“Power Ore has signed an agreement with Explorateurs-Innovateurs de Quebec (Ex-In) to acquire a 100% interest in the Opemiska copper mine complex in Quebec, Canada.”

The project anticipates receiving a special mining lease by 30 June 2019.

Australia-based Newcrest is engaged in gold and copper mining, while South African firm Harmony Gold Mining is focused on gold mining and exploration.

MSP Engineering has awarded an A$8m ($5.76m) piping contract to Simpec for Tianqi Lithium’s Kwinana lithium hydroxide processing plant (LHPP1) in Western Australia.

Simpec will install piping and insulation for the processing plant’s Pyromet area.

Simpec is an engineering contractor business of Weststar, while MSP is engaged in engineering and construction.

Both companies are based in Australia.

Power Ore has signed an agreement with Explorateurs-Innovateurs de Quebec (Ex-In) to acquire a 100% interest in the Opemiska copper mine complex in Quebec, Canada.

Power Ore has agreed to pay $50,000 in cash, issue eight million shares and eight million warrants to Ex-In, as well as spend $3m in works on Opemiska, as part of the transaction.

Both based in Canada, Power Ore is a mining company engaged in silver, cobalt and nickel production, while Ex-In is engaged in zinc and copper mining.

Sabina Gold & Silver has agreed to raise C$20m ($15m) through an offering of 16.67 million common shares, priced at C$1.2 ($0.9) a share, to a syndicate of underwriters co-led by BMO Nesbitt Burns Inc. and RBC Dominion Securities.

The underwriters are also allowed to purchase an additional 2.5 million common shares, exercisable for a period of 30 days.

Sabina Gold & Silver is a precious metals company focused on gold production, while BMO and RBC are investment and financial services firms.

All the companies involved in the agreement are based in Canada.