Deals This Week: Mitsubishi, Hunnu Coal, Big Bear and More

15 April 2010 (Last Updated April 15th, 2010 18:30)

Mitsubishi, JX Holdings and Mitsubishi Materials will pay more than JPY50bn ($537m) to increase their combined stake in Chile’s Escondida copper mine. The companies will acquire the 2.5% interest from International Finance to boost their share from 10% to 1

Mitsubishi, JX Holdings and Mitsubishi Materials will pay more than JPY50bn ($537m) to increase their combined stake in Chile’s Escondida copper mine.

The companies will acquire the 2.5% interest from International Finance to boost their share from 10% to 12.5%.

Hunnu Coal will acquire a 60% interest in the Unst Khudag coal mine and surrounding licenses, located in the Dundgobi Province of Mongolia.

The project covers two exploration licenses and one mining license over 1,600ha, on which the relevant government authority has approved the mining of 98.7mt of coal.

Dolat Ventures will acquire a majority stake in Millennium Mining of Sierra Leone.

Dolat is acquiring 75% of the common and outstanding stock of the diamond producer in return for 30 million common shares in a share exchange agreement.

North American Gem has finalised the acquisition of an additional 650-acre multi-seam coal lease in Knox County, Kentucky, to be known as the Gilliam Hill Lease.

The lease is adjacent to the North American Gem 2 Mine and contains the readily marketable Blue Gem coal throughout the entire lease area with an average seam thickness of 2ft.

American Energy Fields has acquired the Coso uranium and Blythe uranium projects in the mining districts of Inyo and Riverside Counties, California.

The Cosco project includes 169 federal mining claims, while Blythe consists of 66 federal mining claims and covers three historic mines.

Romios Gold Resources has acquired a 100% interest in the Trek Property in the Galore Creek area of north-western British Columbia.

Big Bear Mining has acquired an additional nine claims totalling 4,104 acres located in the Birch/Uchi portion of the Red Lake Mining Division.