Deals This Week: Korea Resources, Golden Phoenix, Innocent and More

26 August 2010 (Last Updated August 26th, 2010 18:30)

Eurasian Natural Resources has acquired a large suite of assets in the Democratic Republic of Congo that includes a majority stake in the Kolwezi copper project. The total value of the consideration is $175m. Korea Resources will sell part of its stake in the Ambatov

Eurasian Natural Resources has acquired a large suite of assets in the Democratic Republic of Congo that includes a majority stake in the Kolwezi copper project.

The total value of the consideration is $175m.

Korea Resources will sell part of its stake in the Ambatovy nickel mine in Madagascar to three Korean companies for $140m.

Trading house Samsung C&T will buy 3%, Hyundai Heavy Industries 1.5% and Hyundai 0.5%.

The $4.65bn Madagascar mine will produce 60,000t of nickel a year starting from 2011.

Golden Phoenix Minerals said it has signed an agreement to acquire an undivided 80% interest in the Coyote Fault gold and silver property in Esmeralda County, Nevada, US.

The Coyote Fault property is comprised of 34 claims.

Innocent has completed the acquisition of Murciealagos Vizcaya and Lilly Rai mining concessions, located in Ecuador's El Oro province.

The properties contain 144,492oz of inferred gold.