Deals this week: Trinity Industries, Newmont Mining, Anconia Resources and more

13 February 2014 (Last Updated February 13th, 2014 18:30)

Trinity Industries has acquired the assets of Platinum Energy Services through a newly formed subsidiary.

Mining

Trinity Industries has acquired the assets of Platinum Energy Services through a newly formed subsidiary.

Based in Alberta, Canada, Platinum manufactures and re-sells oil and gas process and storage equipment, including various types of containers, separators and treaters used at the well-site and in midstream locations.

Trinity believes that Platinum provides an ideal way for us to explore opportunities to manufacture well-site and midstream products. This market offers plenty of opportunities for additional expansion.

Newmont Mining gold and copper producer has successfully completed the sale process of its Midas operation in Nevada, to Klondex Mines for $83m.

The sale, which was originally announced on 4 December 2013, is part of the company's strategy to divest non-core assets and focus on improving financial flexibility and increasing shareholder value, through lower cost and longer life operations.

Under the sale, Newmont will receive approximately $55m in cash and the replacement of Newmont surety arrangements with Nevada and federal regulatory authorities in the amount of approximately $28m.

Newmont also received five million common share purchase warrants of Klondex that have a 15-year term, subject to acceleration in certain circumstances, at an exercise price of C$2.15 ($1.95) per share.

Anconia Resources exploration and development company has acquired Jarositas exploration permit situated in southern Spain.

Jarositas covers approximately 154km² of ground prospective for lead-zinc-silver exploration.

The Jarositas exploration permit area contains geology favorable for additional mineral occurrences in a region of active and previously active geothermal systems, as there are several known mineralised showings within the property area.

These systems contain widespread alteration zones of a type commonly associated with lead, zinc and silver mineralisation.

Evrim Resources steel and mining company has signed a five year agreement with ArcelorMittal Servicios Minerometalurgicos de Occidente SA de CV (ArcelorMittal), a wholly-owned subsidiary of ArcelorMittal, to explore iron ore deposits in Mexico.

Under the terms of the deal, ArcelorMittal and Evrim will jointly fund exploration programmes to search for iron ore projects of merit in Mexico.

The development of projects will be solely funded by ArcelorMittal, which will thereby earn a 100% interest in such projects, subject to a sliding scale royalty on iron ore production and a separate royalty on all other commodities payable to Evrim.

Both companies have agreed to a firm commitment for the first two years of the agreement.

Evrim Resources believes that the agreement offers them a unique opportunity to quickly advance projects for long-term sustainability.

Amalgamated Gold and Silver (AGS) development-stage company has signed a letter of intent to acquire a 70% interest in the El Banco concession located in Jalisco, Mexico.

El Banco is a 4000ha concession with strong assays of high-grade iron ore and copper.

Mine engineer Ricardo Vera and geologist David E. Clavellina Corralas are currently on site conducting trenching and sampling of several previously identified areas.

The company expects to receive the field report and assay results in March this year.

AGS has concluded negotiations and has retained Exploration Alliance SA.


Image: File image. Photo: courtesy of freedigitalphotos.net/adamr.

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