Deals this week: Rosebud Mining, Epangelo Mining, Focus Graphite and more

30 October 2014 (Last Updated October 30th, 2014 18:30)

Rosebud Mining is buying Central Pennsylvania based Amfire Mining from Alpha Natural Resources for $86m.

deals

Rosebud Mining is buying Central Pennsylvania based Amfire Mining from Alpha Natural Resources for $86m.

As per the deal, the Virginia, US-based Alpha Natural Resources will pay $75m in cash and assume certain liabilities.

The transaction is expected to close by year-end.

The mine produced approximately 1.7 million tonnes of coal, including 1.2 million tonnes of metallurgical coal through September.

Namibia based mining investment firm Epangelo Mining has agreed to buy a 7.5% stake in Navachab gold mine from QKR.

The stake was earlier bought by QKR from AngloGold Ashanti.

QKR will fund the stake buy, while proceeds from the sell will be used by Epangelo Mining to pay off its loan, according to Bloomberg.

Navachab mine is an open-pit operation produced about 63,000 ounces of gold in 2013.

Focus Graphite and the Uashat Mak Mani-Utenam Innu (ITUM) First Nation Band Council have collaborated to work on understanding the impacts of the company's Lac Knife graphite project in Québec, Canada.

The pre-development agreement will allow the partners to incorporate ITUM's concerns into the project.

The deal paves way for a long-term partnership that would allow sustainable development of the project in the region.

It will also provide the company with an opportunity in the secondary transformation market, while addressing the community's social needs.

Deveron Resources has signed a letter agreement to buy Greencastle Resources' Rockstone zinc / graphite property, located 40km west of Thunder Bay in Ontario, Canada.

Deveron has agreed to pay $150,000 and spend $2,000,000 in exploration over three years, to acquire a 60% stake in the property.

The company will have an option to gain 100% interest by spending on a bankable feasibility study, which is subject to Greencastle retaining a 3% net smelter return royalty.

The transaction is subject to definitive option agreement by the companies and the receipt of the TSX Venture Exchange approval.

Diamond company Trans Hex has completed the acquisition of De Beers Consolidated Mines' (DBCM) Namaqualand mines.

Emerald Panther Investments 78 (EPI), Trans Hex's 40%-owned venture, has acquired the Namaqualand assets.

The deal has been completed after Trans Hex and DBCM concluded a sale agreement, under which a special purpose vehicle was created to house the state's 20% stake.

Earlier, Trans Hex said that the addition of Namaqualand mines to its portfolio will increase the life of its South African operations to 14 years.


Image: Several deals were signed this week. Photo: courtesy of adamr / FreeDigitalPhotos.net.

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