Codelco has exercised an option to purchase a 49% equity interest in Anglo American‘s mining assets in south Chile for $6bn.
The company said if Anglo proposes a formula that safeguards its full value then it will consider taking a smaller stake. Anglo’s properties in southern Chile include the Los Bronces project, the El Soldado mine; the Chagres smelter; and the Los Sulfatos and San Enrique Monolito exploration projects.
Eurasian Natural Resources Corp has agreed to acquire First Quantum Minerals assets in the Democratic Republic of Congo for $1.25bn. The deal, which is expected to be completed on 29 February this year, will cover First Quantum’s share of the Kolwezi copper project, Frontier and Lonshi projects.
Shanghai Construction subsidiary China Shanghai Corporation for Foreign Economic & Technological Cooperation has signed an agreement with Chalice Gold Mines to acquire a 60% stake in Zara Mining for $80m. The company has the option to acquire additional mining rights from Zara Mining for gold mines with reserves that will be confirmed once the transaction is complete.
Canadian commodities supply chain firm MFC Industrial will acquire the Pea Ridge iron ore mine in US, in partnership with Alberici Constructors. MFC has paid $13m for its stake in the mine and assumed an unspecified amount of debt.
Xinergy has executed an asset purchase agreement to acquire coal assets in Bell, Clay and Leslie counties in Kentucky, US, for $13.4m. The coal assets include leases, permits and equipment.
Mega Uranium has entered into a letter of intent with Titan Uranium to acquire all of Titan´s Canadian exploration properties in exchange for 10,000,000 common shares of Mega. The proposed acquisition includes 23 projects, covering 480,000ha in the Athabasca Basin of Saskatchewan and other areas.