South32 has entered a binding agreement to acquire the Metropolitan Colliery that belongs to the Australian subsidiary of Peabody Energy Corporation.

As part of the deal South32 will also acquire an associated 16.67% stake in the Port Kembla Coal Terminal (PKCT).

South32 will pay $200m to Peabody Energy Corporation and both companies will share commodity price upside in the first year of production.

Metals of Africa has announced an oversubscribed placement of 100 million fully paid ordinary shares, priced at A$0.09 each, to raise approximately A$9m ($6.93m) in two tranches.

"Metals of Africa has announced plans to raise approximately A$9m."

The shares will be subscribed to by institutional and upper-level investors.

Proceeds from the offering are intended to be used primarily for development of the Montepuez and Balama Central Graphite Projects. Morgans Corporate served as the lead manager for the placement.

Hawkeye Gold & Diamond has signed a letter of intent (LoI) to acquire a 50% interest in the past-producing La Cobriza project, Mexico, from a third-party independent vendor for $4.5m.

The LoI carries a 45-day due diligence period, when Hawkeye Gold & Diamond can visit the site and evaluate the property.

The gold and silver project is located at the centre of the famous San Dimas mining district, and is adjacent to Primero Mining’s Tayoltita mine.

PT Antam has entered a strategic alliance agreement with Newcrest Mining, to jointly explore gold and copper deposits in West Java, East Java, South Sumatera, Nusa Tenggara, North Sulawesi, Halmahera and Mollucas Islands, Indonesia.

The two parties have also agreed to form separate joint-venture parties for the development of each project determined during the exploration.