Major Deals This Week: GoldCorp, Metallurgical Corporation of China, Khan Resources and more

4 February 2010 (Last Updated February 4th, 2010 18:30)

Canada's GoldCorp has completed the acquisition of Canplats Resources for C$4.80 per share or C$308.5m ($289.7m). The acquisition includes the Camino Rojo project, which will increase GoldCorp's gold and silver resources. China's Metallurgical Corporation of

Canada's GoldCorp has completed the acquisition of Canplats Resources for C$4.80 per share or C$308.5m ($289.7m).

The acquisition includes the Camino Rojo project, which will increase GoldCorp's gold and silver resources.

China's Metallurgical Corporation of China (MCC) signed an agreement to acquire a 5% stake in Australian mining company Resourcehouse for $200m.

The acquisition includes a 10% stake in Resourcehouse's Queensland-based China First coal mine project and will entitle MCC to receive a 4% commission from the yearly sales of 30 million tonnes of coal.

Hong Kong's First Pacific, through its unit Two Rivers Pacific Holdings, completed the purchase of an additional 5.9% interest in Filipino mining company Philex Mining for PHP6.02bn ($128.77m).

The acquisition increases Two Rivers Pacific Holdings’ stake in Philex to 15.1%, which is in addition to the 31.5% economic stake owned by the First Pacific group of companies in Philex.

Indonesian coal miner PT Indo Tambangraya Megah said it might take over Trubaindo mining concession worth $100m to $115m in East Kalimantan, Indonesia in the first quarter of the year once ongoing due diligence has been completed.

The mine contains 60 million tonnes of medium-quality coal reserves.

Cliffs Natural Resources completed the purchase of US Steel Canada's 44.6% stake and ArcelorMittal Dofasco's 28.6% stake in the Wabush Mines joint venture (JV) for $88m, making it the sole owner of the JV.

The acquisition enables the company to substantially increase its iron ore reserves and iron ore pellet production capacity.

China National Nuclear Corporation’s (CNNC) indirect wholly owned subsidiary CNNC Overseas Uranium Holding signed a definitive agreement with Khan Resources to acquire all of the latter's outstanding common shares for C$56.5m ($53.3m) in cash.

Under the agreement, which is being considered as a take-over bid, CNNC is entitled to match any better offer made by another bidder.