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