Anglo American Platinum has increased its stake in the Mototolo joint venture (JV) from 50% to 100%.
Anglo has acquired Glencore Operations South Africa’s 40.2% stake by paying R0.9bn ($61.75m) in cash and agreed to make deferred payments in monthly instalments over a six-year period. The company has also purchased Kagiso Platinum Venture’s 9.8% interest for R267m ($18.31m).
Anglo American Platinum will become the full owner of a low-cost, high-quality resource following the stake purchase, and proposes to combine the Mototolo JV area with its adjacent Der Brochen resource thereby adding material value.
Based in South Africa, the acquirer is engaged in the production of platinum.
Ausdrill has acquired Barminco in a $197.2m deal by purchasing all the equity and equity-like instruments of Barminco. Ausdrill has offered 150.7 million shares and paid $18.44m in cash for the acquisition.
Ausdrill has transformed into the second biggest mining services company in Australia by revenue and the biggest ASX-listed pure-play mining services company through the acquisition.
Ausdrill is a diversified mining services company, while Barminco is an underground hard-rock mining contractor. Both companies are based in Australia.
The Government of India plans to sell up to 9% of its stake in Coal India to raise $2.02bn as part of its divestment strategy.
Owning a 78.3% stake, the government proposes to divest a 3% interest in the company by selling up to 186.2 million shares at a price of Rs266 ($3.59) a share through offer for sale (OFS). The divestment is expected to increase by an additional 6%, in case of an oversubscription.
Coal India is a state-controlled coal mining company.
Evolving Gold has entered a definitive agreement to acquire Bocana Resources.
Bocana will amalgamate with EVG as part of the agreement, and the company’s shareholders will receive post-consolidated shares of EVG. The outstanding shares of EVG will be consolidated on a three-for-two basis.
Both based in Canada, Evolving Gold is focused on developing large-scale lithium systems, while Bocana Resources is a private company holding mineral property interests in South America.