Major Deals This Week

17 December 2009 (Last Updated December 17th, 2009 18:30)

Newmont Mining subsidiary Newmont Indonesia and Sumitomo affiliate Nusa Tenggara Mining have completed the $247m sale of their 7% stake of PT Newmont Nusa Tenggara to PT Multi Daerah Bersaing. Newmont received $139m in cash from the sale, reflecting its 56.25% share of the total

Newmont Mining subsidiary Newmont Indonesia and Sumitomo affiliate Nusa Tenggara Mining have completed the $247m sale of their 7% stake of PT Newmont Nusa Tenggara to PT Multi Daerah Bersaing.

Newmont received $139m in cash from the sale, reflecting its 56.25% share of the total sales price.

Zhaojin Mining obtained a confirmation letter for the transferee qualification for the 100% state-owned property rights of Canzhuang Gold Mine in China's Zhaoyuan City for $62.4m.

Once the transfer is complete, Zhaojin's gold metal reserve will increase by more than 20,000kg and the company will get four additional mining rights covering 3.17km² area and 12 additional exploration rights covering 71.92km² area.

Zijin Mining says it will acquire a 22% share in Wuhou Zijin for $21.9m, increasing its stake to 95%, and a 4.8% share in Bayannaoer Zijin for $6.3m, raising its stake to 67.2% from its partner Huang Mao.

Eldorado Gold closed an acquisition of all of Sino Gold's outstanding securities, not held by Eldorado, pursuant to a Scheme Implementation Deed in August.

USA Uranium has completed the acquisition of the Pasadena / Occidental Mine in Southern California.

Uranium One has closed in escrow the acquisition of a 50% stake in the Kazakhstan-based Karatau Uranium Mine from Russian mining company JSC Atomredmetzoloto (ARMZ).

Uranium One has issued 117 million common shares to ARMZ, which represents 19.9% ownership stake in the former's common shares.

Indian firm Varun Energy has acquired uranium mines in Madagascar, which contains a high concentration of uranium apart from thorium and gold.

The acquisition includes 1,111 blocks spread across 6,900km² with estimated reserves of 1.7 million tonnes of uranium, 4.35 million tonnes of thorium and traces of gold meant for exploration, exploitation and output sale.

JFE Steel will purchase a 20% stake in Byerwen Coal project in Queensland, Australia, from Qcoal, which will help JFE strengthen its captive coal resources.