Deals this week: Shandong, Clifton Star and more

20 September 2012 (Last Updated September 20th, 2012 18:30)

Chinese metal producer Shandong Gold Group has signed an agreement to buy a 51% stake in Focus Minerals of Australia for $227.5m.

Chinese metal producer Shandong Gold Group has signed an agreement to acquire a 51% stake in Focus Minerals of Australia for $227.5m.

Shandong Gold will pay $0.05 for each share of Focus at a 13.6% premium. The acquisition is aimed at increasing output and meeting rising demand for gold in China.

Coal producer Harum Energy is looking to acquire coal mines in East Kalimantan, Indonesia, to enhance its production.

The acquisition will be financed with the company's internal cash.

AXG mining has agreed to take over Pinto Minerals and its three large copper gold prospecting licences in Zambia under an all scrip acquisition.

Pinto has the option to acquire 64% interest in the licences pending with the Department of Mines in the Republic of Zambia.

Canadian gold exploration company Xmet will acquire the Duquesne gold mine from Clifton Star.

The mine is located near the Duquesne-Ottoman project owned by Xmet in Quebec and Xmet agreed to issue 19.9% of its outstanding shares to Clifton Star for 100% ownership of the mine.

Knick Exploration has acquired a set of 16 mining claims in Quebec.

Under the terms of two agreements made with two vendors on 1 September 2012, Knick will pay a total of $185,000, which includes $25,000 in cash and two million common shares.