Deals this week: Lundin Mining, Rio Tinto and more

27 September 2012 (Last Updated September 27th, 2012 18:30)

Canadian-Swedish group Lundin Mining is looking to acquire zinc and copper mine properties to help boost its production, according to company CEO Paul Conibear.

Canadian-Swedish group Lundin Mining is looking to acquire zinc and copper mine properties to help boost its production, according to company CEO Paul Conibear.

The firm is hoping to purchase properties that produce 30,000t to 70,000t of metal per annum and has SEK4bn ($604.05m) available to spend on acquisitions.

Rio Tinto has agreed to sell its 100% stake in Riversdale Mining to Forbes & Manhattan Coal for ZAR440m ($54m).

The company will also receive an annual revenue share of 10% on incremental revenues of over and above ZAR850m ($54.08m) until 2025.

Indonesian miner Indo Tambangraya Megah (ITMG) plans to delay further acquisitions of coal mining sites in 2012.

ITMG had earlier planned to acquire two mining sites in East Kalimantan, costing between $100 and $200m this year, but will now delay the plans due to the bearish coal market.

Trevali Mining Corporation has entered into a $60m agreement with FirstRand Group of South Africa to settle its current debt and fund its stand-alone mining operations in the Bathurst Camp of New Brunswick.

The funding comprises of a $30m corporate facility repayable over a five-year term and an additional $30m pre-paid gold and silver facility.

Santo Mining Corporation has agreed to purchase a 100% stake in the Walter gold exploration claim in the Maimon district of the Dominican Republic.

The claim is located a mile away from one of the world's largest gold mines, the 25.3-million-ounce Barrick Gold Pueblo Viejo mine, and one mile northeast from the Perilya's Cerro de Maimon gold mine.