BCI Minerals has agreed to sell its Kumina iron ore project to Mineral Resources for A$35m ($24.7m) as part of its Pilbara iron ore divestment process.

Mineral Resources has agreed to make an initial payment of A$27m ($19.1m), following the closure of the deal. The company will pay A$4m ($2.82m) following the first export of iron ore from the project and the remaining after 12 months from the first export, as part of the agreement.

BCI Minerals is engaged in the production and exploration of iron ore, gold and base metals, while Mineral Resources is a mining services provider. Both firms are based in Australia.

Black Rock Mining has signed a three-year offtake agreement with Heilongjiang Bohao Graphite for the sale of natural flake graphite from the Mahenge graphite mine in Tanzania.

Black Rock will respectively supply 30,000t, 50,000t and up to 90,000t in the first three years, as part of the agreement.

“Lonmin has entered a $200m metal purchase agreement with Pangaea Investments Management (PIM).”

The company is executing the transaction through its wholly owned subsidiary Mahenge Resources.

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By GlobalData

Australia-based Black Rock is engaged in mining business and currently focused on developing the Mahenge Graphite Project in Tanzania, while Heilongjiang Bohao Graphite is a Chinese company.

Lonmin has entered a $200m metal purchase agreement with Pangaea Investments Management (PIM).

The transaction is expected to improve Lonmin’s liquidity and help remove certain restrictive current lender conditions with regards to the acquisition of Sibanye-Stillwater.

Based in the UK, Lonmin is engaged in the production of platinum group metals (PGMs), while PIM is an associate company of China-based Jiangxi Copper Company.

Minera Freeport-McMoRan South America has entered a definitive earn-in option agreement with Minera Ricardo Resources for acquiring up to 80% in the Ricardo copper-molybdenum property in Chile.

The option agreement involves a three-stage process, wherein Freeport is expected to make an expenditure of $130m for earning the stake in the Ricardo property.

Minera Freeport-McMoRan South America is a Chilean subsidiary of US-based international mining company Freeport-McMoRan, while Minera Ricardo Resources is a subsidiary of Solaris Copper.

Solaris Copper is a Canadian multi-asset exploration company engaged in advancing copper projects in the Americas through its subsidiaries.