Major Deals this Week – Chinese Miners Spend Big

Resource-hungry Chinese miners lead the week with a series of acquisitions.

Yanzhou Coal Mining, China’s fourth-biggest coal producer, obtained the Australian Government securities regulator’s approval for its A$3.2bn takeover of Australia’s Felix Resources.

China’s Wuhan Iron & Steel Corporation (WISCO) signed an agreement with EBX Group for $400m in shares in MMX, a subsidiary of EBX.

The deal will make WISCO a secondary shareholder in MMX and will give it the rights to acquire iron ore from MMX on a long-term basis.

Jaguar Mining has acquired MCT Mineracao from Companhia Nacional de Mineracao (CNM) for $39m.

Pan American Silver has acquired 84.5% of Aquiline Resources‘s common shares.

Puda Coal closed an 18% equity transfer agreement with Shanxi Jianhe Coal Industry following its agreement in May this year.

In accordance with a previous agreement, the owner of the other 82% of Jianhe Coal guaranteed Puda first priority rights to acquire the remaining stake in Jianhe Coal within two years.

Sable Mining Africa completed a placing to raise £27m for acquisitions in sub-Sahara Africa for uranium and coal opportunities. Sable said the funds will be used to acquire coal and uranium assets in Namibia, Botswana, Zimbabwe and Zambia.