Barrick Gold has entered a mutual investment agreement with Shandong Gold Group to strengthen their relationship and create long-term strategic value.
Shandong Gold Group will buy $300m worth of shares of Barrick Gold, while the latter will invest an equivalent sum in the shares of the latter’s subsidiary, Shandong Gold Mining.
Go deeper with GlobalData
The new agreement follows a previously formed 50-50 joint venture in July 2018 for the development of Barrick Gold’s Veladero mine located in Argentina.
Barrick Gold is a Canadian exploration and development company, while Shandong Gold Group is a mining company based in China.
A subsidiary of Anglo American Group has signed an earn-in joint venture agreement with Luminex Resources for three concessions located in Ecuador including Pegasus A, Pegasus B and Luz.
Anglo American Group will invest $50m to earn the right to acquire a 60% interest in the joint venture company, which holds the rights to the three concessions, as part of the agreement.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAnglo American Group will also make a payment of $7.5m over seven years. The agreement also includes right to purchase an additional 10% interest in the joint venture company.
Anglo American Group is a UK-based mining company, while Luminex Resources is a Canada-based precious and base metals exploration and development company.
New Gold has entered a definitive agreement with Equinox Gold to divest the Mesquite gold mine in California, US, for $158m.
Mesquite gold mine is estimated to hold proven reserves of 1.13 million ounces (Moz) and has produced 135,000oz of gold a year over the last ten years. The transaction is expected to be closed in the fourth quarter of 2018.
New Gold focuses on gold, silver and copper exploration, while Equinox Gold is a mining company. Both companies are based in Canada.
Peabody has entered an agreement with Drummond to acquire the Shoal Creek metallurgical coal mine for $400m.
Peabody will acquire the mine, which is located on the Black Warrior River in Central Alabama, US, and associated preparation facilities, as part of the agreement.
The transaction is expected to be closed in late-2018 and will increase Peabody’s annual high-quality coking coal sales by two million tonnes.
Peabody is a pure-play coal firm, while Drummond is a privately-owned mining company. Both firms are based in the US.
Posedion Nickel has entered two separate memorandums of understanding (MoUs) with SulphideX and Estrella Resources for ore tolling at its Black Swan operations in Western Australia.
Located 55km from Kalgoorlie, Posedion’s Black Swan operations include a 2.2Mtpa concentrator.
Posedion will process the nickel ore mined from SulphideX’s Mt Venn project and Estrella’s Carr Boyd nickel project, which are located near the Black Swan operations, as part of the MoUs.
The nickel concentrate produced at Black Swan will be purchased by SulphideX and Estrella as per agreed rates. Posedion will also manage the sales and marketing of the concentrate.
Posedion is a nickel sulphide development company, while SulphideX is a private exploration company and Estrella is a copper and gold exploration company. All the companies involved in the transaction are based in Australia.
The transaction is expected to strengthen Posedion’s position as a nickel mining company.
