Deals this week: Teck Resources, Sinofert Holdings and more…

12 January 2012 (Last Updated January 12th, 2012 18:30)

Canadian diversified mining company Teck Resources has agreed to acquire SilverBirch Energy Corp for about $425m.

Canadian diversified mining company Teck Resources has agreed to acquire SilverBirch Energy Corp for about $425m.

The acquisition will allow the company to gain full ownership in two oilsands projects and spin out the rest into a new junior company, SilverWillow Energy Corporation.

Chinese fertiliser producer Sinofert Holdings said it will buy China-based Xundian Lomon Phosphorus Chemical, a phosphate mining company, for a total consideration of CNY1.38bn ($218.72m).

Sinofert will acquire Xundian Lomon, which owns phosphate mines, from Sichuan Lomon Corp and Tibet Longsheng Investment Management.

Mineral explorer Resource and Investment has purchased the Fortnum gold project and surrounding exploration tenements in Western Australia's Bryah Basin for $35m.

Resource and Investment secured the property in a cash-and-share deal basis from a Cayman Island hedge fund BlueCrest.

IKA Resources Inc has acquired four gold projects in Lake Victoria Goldfields, Tanzania, for an undisclosed sum.

China Shen Zhou Mining & Resources Inc has signed an agreement to merge and acquire a number of fluorite and barite mining and mineral processing companies located in the Wuling Mountains in the province of Guizhou, China.

The company said negotiations are expected to be finalised within the next 60 days.

Mines Management has signed a letter of intent (LOI) with Estrella Gold Corp for an option to acquire up to 75% of the La Estrella gold and silver project located in central Peru.

Mines Management through its subsidiary, Minera Montanore Peru, will be spending $5m over four years on exploration activities, under the terms of LOI.