Deals this week: BHP Billiton, Rio Tinto, Glencore and more

1 December 2011 (Last Updated December 1st, 2011 18:30)

BHP Billiton plans to sell all or part of its diamond assets, which include the Ekati mine in Northern Canada.

BHP Billiton plans to sell all or part of its diamond assets, which include the Ekati mine in Northern Canada.

The company said on Wednesday it began a review to examine whether a continued presence in the diamond industry was consistent with its strategy of investing in expandable assets.

The Indonesian Government plans to buy a 59% majority stake in Indonesia Asahan Aluminium from Japan's Nippon Asahan Aluminium.

The government has allocated IDR 2tn ($220m) to buy a majority stake in Indonesia Asahan Aluminium from Japan's Nippon Asahan Aluminium.

The government will finance the acquisition from next year's state budget.

Rio Tinto has completed the sale of the Colowyo Mine to Western Fuels-Colorado, for an undisclosed sum.

The sale of the thermal coal mine is located in Western Colorado, US, was agreed on 16 September.

Since 2008, the company has completed more than 20 divestments with total gross proceeds of more than $11 bn.

Switzerland's Glencore has purchased an additional 13.3 million shares in the PolyMet Mining Corp, in a deal totaling $20m.

The shares of the startup copper mine which is proposed near Hoyt Lakes, were acquired at a purchase price of $1.50.

South Africa based Wescoal has unveiled plans to acquire 51% of the Pegasus project in Mpumalanga Province in a deal worth SAR102m ($14.84m).

The project, previously owned by BHP Billiton Energy Coal South Africa, features an undeveloped metallurgical and export quality thermal coal deposit with a resource of approximately 15 million tons.

Qiao Xing Universal Resources has signed a letter of intent (LOI) to acquire a 100% equity interest in a company that owns an open-pit marble mine in Hunan province, China.

The cash consideration for the acquisition will be determined by a third-party appraisal of the equity value of the target company, under the terms of the LOI.

Rugby Mining has entered into option agreements to acquire the Rio Chico gold, platinum and copper project and the Zonda porphyry gold and copper project in Argentina.

Rugby will make progressive payments that total $ 1m over a five year period to acquire 100% of the Rio Chico project.