Deals This Week: Sinosteel, Osisko, BHP Billiton and More

29 April 2010 (Last Updated April 29th, 2010 18:30)

Sinosteel Corp, China's largest iron ore trader, signed an iron ore purchase agreement with Australian mining firm Brockman Resources this week. The agreement, with a potential value of $5.6bn, will last five years and help Sinosteel buy ten million tonnes of iron ore from

Sinosteel Corp, China's largest iron ore trader, signed an iron ore purchase agreement with Australian mining firm Brockman Resources this week.

The agreement, with a potential value of $5.6bn, will last five years and help Sinosteel buy ten million tonnes of iron ore from Brockman every year.

Osisko Mining made a formal offer for a friendly takeover of Brett Resources.

The total value of the deal is $372m.

The Jinchuan Group will acquire a 49% stake in a joint-venture for $120m to exploit the Aktogay copper mine in Kazakhstan.

The $2bn Aktogay project has mining rights for 40 years and will yield 100,000t of copper a year.

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

This acquisition provides BHP Billiton with 100% control of the Burr project and various additional potash exploration properties in Saskatchewan, Canada.

Xinergy has completed the acquisition of the remaining 95% interest of Raven Crest Mining that Xinergy does not already own.

Raven Crest operates surface mines in Boone County, West Virginia and controls approximately 17 million tonnes of coal reserves.