Magnitogorsk Iron & Steel Works (MMK) has made an offer to acquire all the shares of Australian firm Flinders Mines for A$554m (US$538m).
MMK has offered to pay A$0.30 (US$0.29) per= share in cash, which represents a 92.5% premium to the 30-day volume weighted average pice.
Japanese firm Mitsubishi’s subsidiary Mitsubishi Development has executed a share and asset purchase agreement for acquisition of Murchison Metals‘ interests in Crosslands Resources and Oakajee Port and Rail project in Western Australia for A$325m (US$316m).
With this acquisition, Mitsubishi will have access to the Jack Hills iron ore deposit owned by Crosslands Resources and the associated rail and port infrastructure project.
Indonesian mining firm PT Tambang Batubara Bukit Asam (PTBA) is planning to buy back 2.3 billion shares, which is equal to 5% of its outstanding shares for IDR2.04tn ($225.29m).
PTBA will perform the buy back within 18 months after receiving approval from shareholders, and will use its retained earnings that have not been earmarked to fund the buy-back plan.
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Highland Gold Mining’s subsidiary Stanmix Holding has entered into an agreement with its joint venture partner LLP Kazzinc to acquire Kazzinc’s 48.3% share in the Novo-Shirokinskiy Rudnik, the owner of the Novoshirokinskoye mine is Siberia.
The total consideration for this transaction is $110m, $47m of which accounts for Kazzinc’s 48.3% share in Novo and $63m to be paid as repayment of Kazzinc’s share of intercompany debt.
Indian firm National Mineral Development Corporation (NMDC) is planning to acquire mining projects in Australia and Tanzania at an estimated cost of Rs3bn ($57m).
NMDC will acquire 50% stake in the Ridley iron ore project in Australia and in the Bulyang Ombe gold mine in Tanzania.
Silvercorp Metals has signed a share and purchase agreement to acquire 100% equity in SX Gold Mining for a total value of about $22.75m.
SX Gold operates the XHP silver-gold-lead-zinc mine in China, which includes a 14km2 mining permit and a 500t-a-day flotation / CIL mill.