BHP has signed an agreement with SolGold to purchase an additional 100 million shares priced at £0.045 ($0.062) a share, for £45m ($59.12m).

The acquisition will increase BHP’s stake in SolGold to 11.2% and is part of its plan to acquire Guyana Goldfields’ 6.1% stake in SolGold for $35.2m.

SolGold is the majority owner and operator of the Cascabel porphyry copper-gold project in Ecuador. The company will use the proceeds raised from the transaction towards further expansion of the Alpala resource, which is the main target within the Cascabel concession.

Based in Australia, BHP is a multi-national mining, metals and petroleum company, while SolGold, also based in Australia, is involved in gold and copper mining.

OZ Minerals has acquired 51% stake in the West Musgrave copper-nickel project in Western Australia for A$22m ($15.6m).

The acquisition follows an earn-in agreement signed in October 2016 with Cassini Resources, which holds the remaining stake in the West Musgrave project.

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By GlobalData
“Kasbah Resources has raised an additional A$5m ($3.55m) convertible loan from Pala Investments.”

OZ Minerals has made an initial payment of A$3m ($2.1m) to Cassini, followed by A$19m ($13.49m) for conducting a prefeasibility study (PFS) at the Nebo-Babel deposits and regional exploration.

OZ Minerals is a mining company focused on copper, while Cassini Resources is engaged in base and precious metals development and exploration. Both companies are based in Australia.

Kasbah Resources has raised an additional A$5m ($3.55m) convertible loan from Pala Investments.

The company will use the funds for advancing the Achmmach tin project located in Morocco, which it holds a 75% interest in. Toyota Tsusho and Nittetsu Mining hold 20% and 5% interest in the project respectively.

Kasbah will initially receive an advance of A$500,000 ($357,000) under the existing loan agreement, which will be used to meet the development costs for project financing, engineering and technical optimisation.

Based in Australia, Kasbah Resources is engaged in mineral exploration and development, while Pala Investments is a Switzerland-based multi-strategy investment company focused on the mining and metals value chain.

Deltion Innovations and Moon Express have entered a memorandum of understanding to work together on future mining opportunities on the lunar surface.

The companies have agreed to collaborate on conducting space mining, developing and deploying science payloads for the moon, as well as providing drilling equipment and transportation solutions for space exploration companies and government agencies.

Located in Canada, Deltion Innovations is involved in mining equipment development, while Moon Express is a space transport company based in the US.