Latest Deals: Shandong Iron, Adani Enterprises, POSCO

18 July 2010 (Last Updated July 18th, 2010 18:30)

China's Shandong Iron and Steel Group will buy a 25% stake in a Sierra Leone mine project owned by African Minerals. The total value of the consideration is $1.5bn. India's Adani Enterprises is set to buy a Queensland coal mine from Australia's Linc Ene

China's Shandong Iron and Steel Group will buy a 25% stake in a Sierra Leone mine project owned by African Minerals.

The total value of the consideration is $1.5bn.

India's Adani Enterprises is set to buy a Queensland coal mine from Australia's Linc Energy for $1bn.

Adani expects to produce 50 million tons of coal in the next few years from the coal field, which has reserves of seven to eight billion tons.

Mineral IRL has signed an agreement to purchase the Killincho Gold Exploration Project from Ingerieriay Tecnologia Minero-Metalurgica SA.

POSCO, South Korea's top steelmaker, said it will acquire a 24.5% stake in an Australian iron ore mine for $162m in an effort to raise its resource self-sufficiency.

The Australian Premium iron ore mine in Pilbara, Western Australia, is expected to produce an estimated 40 million tons of iron ore annually starting from 2014.

Thompson Creek Metals will acquire Terrane Metals Corp for about $623.5m to diversify into copper and gold.