Global miner Rio Tinto is free to take control of Ivanhoe Mines, after Ivanhoe recommended scrapping its shareholder rights plan. Rio Tinto can now increase its stake in the miner from 49% to above 50%.
Brazilian iron-ore producer Ferrous Resources has proposed takeover of MMX Mineracao & Metalicos for a total consideration of $2.3bn. Ferrous shareholders would own 53% of the combined company, with MMX sharholders owing the rest.
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Glencore International will acquire the remaining 25.2% of copper and cobalt miner Katanga Mining.
Claude Resources shareholders have approved the acquisition of share equity in St Eugene Mining Corp for $15m. St Eugene will also receive 0.25 of a common share of the new company, but no estimated value of that equity has been provided.
China Shen Zhou Mining & Resources subsidiary Xiangzhen Mining has signed an equity transfer and investment increase agreement with the shareholders of Wuchuan Dongsheng Mining Company. Pursuant to the agreement, Xiangzhen will acquire 60% ownership of Wuchuan Mining’s equity. Xiangzhen will use 2,418,448 of China Shen Zhou’s common shares worth $6.8m and will pay approximately $7.92m in cash.
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