Deals this week: Jindal Steel and Power, Ur-Energy and more

26 July 2012 (Last Updated July 26th, 2012 18:30)

Jindal Steel and Power (JSPL) plans to acquire Canadian coal firm CIC Energy for C$16m ($15.8m) in an all cash deal.

Jindal Steel and Power (JSPL) plans to acquire Canadian coal firm CIC Energy for C$16m ($15.8m) in an all cash deal.

CIC will merge with JSPL's wholly-owned subsidiary Jindal BVI following a strategic binding merger agreement inked between the two companies.

The company's existing shareholders will get C$2 ($1.98) per share for their outstanding shares in the Canadian firm.

Ur-Energy subsidiary Ur-Energy USA has signed a share purchase agreement to acquire Pathfinder Mines from its sole shareholder Cogema Resources, an AREVA Mining affiliate, for $13.2m.

Pathfinder owns the Shirley Basin and Lucky Mc mine sites in the Shirley Basin and Gas Hills mining districts of Wyoming, with the remaining resources at the two sites estimated to approximately 15 million lbs U3O8.

Alphamin Resources British Virgin Islands subsidiary Alphamin BVI has exercised its option to acquire an additional 20% of Mining and Processing Congo (MPC).

The company now has a 90% stake in MPC, which owns licences covering the Bisie Tin Project in the Democratic Republic of the Congo, by issuing 19,335,747 Alphamin shares.

Cadman Resources signed a letter of intent to purchase 65% of the Mbozi Copper project located in Tanzania from Hong Kong-based Shenba Resources.

Under the deal, the company will undertake $3m in exploration expenditures, pay $200,000 cash and issue 5,000,000 common shares and 5,000,000 warrants exercisable at $0.25 over a three-year period.

Newmont Canada has acquired 2,230,000 units of West Kirkland Mining at a price of C$0.35 ($0.34) per unit for C$ 780,500 ($773,078).