Deals this week : ENRC, China Nickel, B2Gold and more…

13 October 2011 (Last Updated October 13th, 2011 18:30)

Eurasia Natural Resources (ENRC) is planning to acquire two million common shares of Shubarkol Komir from Eurasian Industrial for an aggregate value of US$600m and assumed debt of about US$50m.

Eurasia Natural Resources (ENRC) is planning to acquire two million common shares of Shubarkol Komir from Eurasian Industrial for an aggregate value of US$600m and assumed debt of about US$50m.

Shubarkol Komir is a thermal coal producer in Kazakhstan, with proved and probable JORC-compliant coal reserves of 326.2 million tons.

With this acquisition, the coal production capacity of ENRC in Kazakhstan will exceed 25 million tons per year.

China Nickel Resources will acquire an 80% stake in Indonesian firm PT Yiwan Mining for total value of HK$2.067bn (US$266m), to secure supply of nickel-iron ores and mineral resources.

The Chinese firm will settle about HK$1.907bn (US$245m) of the acquisition costs by the issue of convertible notes.

Canada's B2Gold has agreed to buy Auryx Gold for about C$160m (US$156m) in a cash and stock deal, in which Auryx shareholders will get 0.23 B2Gold shares and US$0.001 for every Auryx share they hold.

The transaction will result in a new firm which will hold a 92% stake in the Otjikoto gold project and a 100% stake in two additional projects, all in Namibia.

Agnico-Eagle Mines has commenced its take-over bid to acquire all of the outstanding common shares of Grayd Resource.

Grayd shareholders will be entitled to receive, for each Grayd share they own, either US$2.80 in cash or 0.04039 of an Agnico-Eagle share and US$0.05 in cash, in each case subject to proration.

The maximum amount of cash payable by Agnico-Eagle under the offer will be equal to about US$92m.

Adaro Energy subsidiary Alam Tri Abadi has signed signed a deed of transfer shares to acquire a 35% interest in PT Servo Meda Sejahtera for IDR200bn (US$22.5m) from PT Servo Infrastructure.

Integrated coal logistic services provider PT Servo Meda Sejahtera provides coal hauling services and barge loading services.