Deals this week: The Mosaic Company, Imperial Metals, Dundee Precious Metals

5 January 2017 (Last Updated January 5th, 2017 18:30)

US-based concentrated phosphate and potash crop nutrients maker The Mosaic Company has reached an agreement to acquire the fertiliser business of Brazilian mining company Vale S.A.

US-based concentrated phosphate and potash crop nutrients maker The Mosaic Company has reached an agreement to acquire the fertiliser business of Brazilian mining company Vale S.A.

The deal involves a cash consideration of $2.5bn, and will help The Mosaic Company expand its fertiliser business in Brazil.

The Mosaic Company will issue approximately 42.3 million shares of its common stock and raise debt to fund the purchase.

Vale plans to use proceeds from the sale for debt repayment.

Canadian mining company Imperial Metals Corporation has agreed for a private placement of ten million common shares to raise up to C$55m ($41.1m).

Significant shareholders of the company issued approximately 7.63 million shares at a price of C$5.5 ($4.11) each to raise at least C$42m ($31.39m) before 31 December 2016.

It will further accept subscriptions for an additional 2.36 million shares approximately at the same price to raise gross proceeds of up to C$13m ($9.71m).

Canadian gold mining company Dundee Precious Metals has reached an agreement to issue approximately 17.84 million common shares to The European Bank for Reconstruction and Development (EBRD) at a price of C$2.45 ($1.83) a share.

Expected to be complete by 23 January 2017, the private placement will raise C$43.7m ($32.66m) and give EBRD a 9.99% stake in the company.

The mining company intends to use the funds to build the Krumovgrad project in Bulgaria and secure its financial position.

"The private placement will raise $32.66m and give EBRD a 9.99% stake in the company."

In a non-brokered private placement, Canadian gold mining company Kirkland Lake Gold Ltd has raised C$7m ($5.02m) by issuing 691,700 flow-through common shares priced at C$10.12 ($7.25) each.

The flow-through shares have a statutory holding period up to 24 April 2017. Proceeds from the placement are intended to be used for conducting exploration at the Macassa and Holt mine complexes located in Ontario, Canada.

Canada-based exploration firm Cartier Resources Inc has reached an agreement to raise C$4.5m ($3.37m) from Agnico Eagle Mines Limited issuing private placement of 22.5 million common shares at a price of C$0.2 ($0.14) a share.

Proceeds from the deal are intended to be invested partly in the exploration of five projects in Quebec, Canada, as well as for working capital and general corporate purposes.

Australia-based MOD Resources Limited has raised A$5.46m ($3.98m) from sophisticated and institutional investors in private placement of approximately 188.59 million fully paid ordinary shares each priced at A$0.029 ($0.021).

Proceeds will be used to fund the company’s Botswana project.

Australian company Birimian as revealed plans to sell its 100% interest of Bougouni Lithium Project located in southern Mali to Shandong Mingrui Group.

A binding letter of intent (LoI) has been signed between the companies and requires the purchaser to deposit A$10.75m ($7.79m) by 20 January for the binding to be effective.

Birimian will also sell and transfer the rights of Torakoro permit, which hosts the Goulamina deposit to Mingrui Group, as part of the deal.

The Golden Grove copper and zinc mine in Western Australia is set to be sold by its owner MMG to EMR Golden Grove Holdings under a conditional share sale agreement for $210m, with $15m having already been paid.

The current owner bought the mine originally from Oz Minerals in 2011.