Deals this week: Mission Mining, Torch River Resources, Ironwood Gold and more

23 May 2013 (Last Updated May 23rd, 2013 18:30)

Mission Mining Company has signed a Letter of Intent (LOI) with Colten Metals to lease, mine, and operate the El Dorado Mine in California.

Deal

Mission Mining Company has signed a Letter of Intent (LOI) with Colten Metals to lease, mine, and operate the El Dorado Mine in California.

The El Dorado Mine reportedly holds extensive quantities of gold, platinum group metals, and rare earth metals, and has the potential to become one of the largest and most productive mining properties in North America.

Torch River Resources has announced that it has entered into an 'arm's length agreement' to acquire the Walker graphite mine.

The acquisition is part of the company's aim to become a pure play lump graphite producer.

The mine, located in the Central Metasedimentary Belt between Montreal and Ottawa, was in operation during 1890-1920, and produced 816 tonnes of lump graphite.

Ironwood Gold has signed a definitive agreement with Canadian Mining Company to acquire about 100% of the 101 unpatented mining clams and related state exploration mining permits, including the 'Bullard Pass Property' in Arizona.

The deal is part of the company's plans to develop a high-quality portfolio of exploration properties comprising known deposits of precious metals.

Amarium Technologies, through its wholly-owned subsidiary Amarium Minerals, has entered into a definitive agreement with Minerales Consolidados (MCSA) to purchase the Jovita Mine and a 40 tonne-per-day copper mill.

Under the terms of the deal, Amarium will acquire 100% of the Jovita Mine for aggregate expenditures of $6.1m over the next three years.

The Jovita Mine is a copper concentrate mine operating in Michoacan, Mexico.

AndeanGold has signed an amendment to the Share Sale and Mining Agreement dated 17 May 2012 with Gitennes Exploration.

The agreement provides AndeanGold with the right to acquire Gitennes' 40% stake in the Urumalqui Ag-Au Project in Peru.


Image: Several mining deals were signed across the globe this week. Photo: Jeroen van Oostrom/ FreeDigitalPhotos.net.

Energy Technology forum on LinkedIn