Deals This Week: Quadra Mining, Osisko, BHP and More

25 March 2010 (Last Updated March 25th, 2010 18:30)

BHP Billiton said it has completed the acquisition of Athabasca Potash. The acquisition gives BHP 100% control of the Burr project and various additional potash exploration properties in Saskatchewan, Canada. Quadra Mining and FNX Mining have entered i

BHP Billiton said it has completed the acquisition of Athabasca Potash.

The acquisition gives BHP 100% control of the Burr project and various additional potash exploration properties in Saskatchewan, Canada.

Quadra Mining and FNX Mining have entered into a merger agreement that will turn the companies into a leading intermediate copper producer.

The new company, Quadra FNX Mining, will be formed with a combined market capitalisation of $3.5bn.

The East China Mineral Exploration and Development Bureau said it will acquire the Itaminas iron ore mine in Brazil from its owner Bernardo de Mello.

The sate-run company will offer $1.2bn to buy the mine which has proven iron ore reserves of 500 million tons, with prospective reserves at 1.39 million tons.

Canada’s Osisko Mining said it will acquire Brett Resources for $367m in an all-stock deal which will establish the company as a diversified gold producer.

The acquisition enables Osisko to own Brett’s Hammond Reef gold project, which is expected to produce a total of 5.13 million ounces of gold over the mine’s lifespan.

Essar said it will buy Aries’s coal mines in Indonesia for $200m as part of its efforts to secure raw material supplies for its proposed thermal power projects in India.

The company said the acquisition will add another 100 million tons to its existing thermal coal resource base of about 275 million tons in India.