India-based Tata Steel Limited has signed a definitive agreement to acquire a 100% equity stake in Brahmani River Pellets Ltd from Aryan Mining & Trading Corporation Pvt Ltd and other companies in the Moorgate Industries Group.
The target company produces steel, metal, iron ore, nickel and copper pellets.
The purchase consideration for the acquisition is Rs9bn ($132.48m), which will be funded through Tata Steel’s internal cash-flows. Tata Steel aims to benefit through upstream integration opportunities resulting from the acquisition.
Valued at C$30.7m ($22.9m), the acquisition will be funded through through exchange of the IAMGOLD Corporation’s common shares and is expected close in the first quarter of 2017.
IAMGOLD currently owns 23% of Merrex’s issued and outstanding common shares.
The deal will be finanaced through exchange of Bora Bora Resources Limited’s shares so that the Trident Subsea Cable will hold 85.23% of the fully diluted issued capital of the acquiring company.
The transaction is expected to close on 19 April.
Philippines-based nickel mining company Marcventures Holdings Inc is set to merge with Asia Pilot Mining Philippines Corp and a holding company of Brightgreen Resources Corp also based in the same country.
An agreement has been signed between the companies regarding the same arrangement.
Hong Kong-based Tiandi International Mining Co Limited has completed the acquisition of Manas Resources Limited’s Australian subsidiary Manas Holdings (Kyrgyz) Pty Ltd.
The acquisition involved a cash consideration of $10m.
UK-based mineral exploration and development company Alecto Minerals plc has signed a conditional agreement to acquire the entire issued share capital of Cradle Arc Investments (Proprietary) Limited from PenMin Botswana (Pty) Limited.
The acquisition will involve a consideration of £6.72m ($8.31m), which will be paid through £1m ($1.24m) in cash and issuance of approximately 8.79 billion new ordinary shares to PenMin.
Canadian mineral development company AuRico Metals Inc has reached an agreement to acquire Kiska Metals Corporation for C$9.6m ($7.17m) with the aim of expanding its royalty portfolio in Canada.
The acquisition will involve a cash consideration of C$0.016 ($0.011) and approximately C$0.06 ($0.05) of an AuRico common share for each Kiska share held, and is expected to be complete in the first quarter of 2017.