Anglo Pacific Group has acquired a 4.25% stake in Labrador Iron Ore Royalty (LIORC) for approximately $50m.
The acquisition will expand Anglo Pacific’s portfolio and enable the company to gain exposure to iron ore assets and high-margin pellet markets. It is also expected to diversify the company’s income profile, commodity and geographic exposure.
Based in the UK, the acquirer company is focused on royalties connected with the mining of natural resources, while the target company owns the Iron Ore Company of Canada (IOC).
IOC is one of Canada’s biggest iron ore producers and operates a mine, concentrator and a pellet plant at Labrador City, Newfoundland.
Ausdrill has signed an agreement with Barminco Holdings to acquire all the equity and equity-like instruments of the latter for A$271.5m ($197.2m).
Ausdrill has agreed to issue 150.7 million fully paid ordinary ex-dividend Ausdrill shares and pay A$25.4m ($18.44m) in cash to Barminco, as part of the transaction.
Barminco shareholders will hold 22.1% of the ordinary shares in Ausdrill, following the transaction.
Both based in Australia, the acquirer company is a mining services firm, while the target company is an underground hard-rock mining contractor.
Aston Bay Holdings has entered a definitive merger agreement with Jack’s Fork Exploration (JFE) to acquire all the issued and outstanding stock of the latter.
Aston Bay will gain absolute rights to the geophysical and geological dataset of JFE’s Blue Ridge project situated in central Virginia, US, as part of the acquisition.
The terms of the agreement include the appointment of JFE president Don Taylor as technical adviser for the Blue Ridge project.
The acquirer company is a Canadian mineral exploration company, while the target company is a US-based private company incorporated under the laws of the State of Delaware.