Australia’s largest gold miner Newcrest Mining said it has completed its due diligence on its purchase of Lihir Gold and expects to complete the A$9.5bn ($7.75bn) acquisition in September.
Newcrest produced 416,651oz of gold during Q1 2010, down 14% year on year, while Lihir produced 229,757oz of gold in the same period, down 26% on last year.
India-based Reliance Power has acquired three coal mines from Indonesia’s Sugico Group with combined reserves of two billion tons.
Reliance has entered into agreements with Sugico to acquire the share capital of PT Srivijaya Bintangtiga Energi and PT Bryayan Bintangtiga Energi, which own the three coal mines.
Atomredmetzoloto (ARMZ), the mining arm of Rosatom, has acquired a controlling stake in Canadian uranium producer Uranium One.
ARMZ will pay $610m to increase its stake in Uranium One from 23.1% to 51%.
Mining group Petropavlovsk has agreed terms for a $60m equity investment in its non-precious metals division by Hong Kong-based investors Asia Resources Fund, a subsidiary of General Enterprise Management Services and CEF Holdings, which will invest $50m and $10m for an equity stake in a new holding company.
Equatorial Coal has acquired two prospective and large-scale iron-ore projects in the Republic of Congo from privately held Congo Mining for $3.2m and 4.2 million ordinary shares.
Prize Mining Corp has executed a conditional agreement with Eagle Plains Resources in which the latter agreed to purchase from Prize Mining its remaining beneficial right, title and interest in the Yellowjacket project including mineral and placer rights, and all equipment and infrastructure for a cash payment and common shares of Eagle Plains.
Tongling Nonferrous Metals Group Holdings and China Railway Construction have jointly acquired a 96.9% stake in the Canadian mining firm Corriente Resources through CRCC-Tongguan Investment (Canada) for C$8.6 a share or a total of C$657.7m ($636m).
The investment is China’s second largest in an overseas copper mine so far.