Deals this week: Cliffs, Santo Mining, Duncastle Gold and more

15 November 2012 (Last Updated November 15th, 2012 18:30)

Mining and natural resources company Cliffs Australia Coal has divested a 45% interest in the Sonoma coal mine in Queensland to its joint venture partners QCoal Sonoma and JS Sonoma for A$141m.

Mining and natural resources company Cliffs Australia Coal has divested a 45% interest in the Sonoma coal mine in Queensland to its joint venture partners QCoal Sonoma and JS Sonoma for A$141m.

Along with its interest in the Sonoma mine, Cliffs also divested the affiliated wash plant.

Santo Mining, a junior minerals exploration and development company in the Dominican Republic, is expanding its base and precious metal properties portfolio with the acquisition of the Nathaniel gold exploration property.

Located in the Dominican Republic, the claim covers an area of 475ha.

Duncastle Gold has signed an agreement with Mineral Mountain Resources to wholly acquire the Pipestone gold project in north-west Ontario.

To acquire the project, Duncastle will pay $300,000 in cash, issue an aggregate 2,000,000 common shares and minimum exploration expenditures on the property amounting to $4m..

US-based mineral exploration company Mesa Exploration has purchased a 100%-interest in the Oatman gold and Belmont silver projects from American Bonanza Gold for $75,000.

The Belmont Mining District in central Nevada hosts gold and silver deposits.

Gulf Mines is seeking to acquire the Colombian Pelaya coal project and the Bahia Inglesa phosphate project in Chile from US-based investment and resources company Kiwanda Group.

Lara Exploration signed an agreement on behalf of the Kiwanda Phosphate Alliance to acquire 6,090 hectares of mining licenses in Chile.

Lara will acquire the phosphate hosting claims from Chilean firms Bahia Inglesa and Compania Minera de Fosfatos Naturales.