Indian firm JSW Steel is planning to acquire Australian coal miner New Hope, which has been valued at A$5bn (US$5.2bn).

New Hope operates the Auckland coal mine in Queensland, which produces and exports around 6Mtpa of thermal coal, and an export terminal.

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Indonesian firm Bumi Resources is planning to buy back 3.75% of its outstanding shares over the next 18 months.

Bumi Resources corporate secretary Dileep Srivastava said that the firm’s immediate objective is to buy about 200 million shares or about $60m to $70m worth of shares.

Riverstone Resources has completed the sale of its remaining interests in the Yaramoko, Bissa West and Solna projects in Burkina Faso to Roxgold for a total value of $36m.

Riverstone has received $17m in cash and 16 million Roxgold common shares with a value of about $19m (based on the closing price of Roxgold common shares on 25 October 2011).

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Penn Virginia Resource has acquired 18.6Mt of coal reserves along with associated timber, oil and gas assets on over 4,700 acres of properties in Kanawha and Boone counties, West Virginia, US, for $21.6m.

The coal reserves have good transportation access to both railroad and river barge facilities and deep mines are located on or adjacent to the acquired properties.

Claude Resources and St Eugene Mining have entered into a definitive agreement, by which Claude Resources will acquire all of the shares of St. Eugene.

The consideration for the purchase of 100% of the fully diluted in the money shares of St. Eugene is about $19m plus Spinco, which will hold the Tartan Lake Gold Mine Project.

 

 

 

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