Deals this week: Sumitomo Corp Highland Gold, Brazil Resources and more

12 July 2012 (Last Updated July 12th, 2012 18:30)

Sumitomo Corp has acquired a 50% stake in an Isaac Plains mine in Queensland, Australia, from Aquila Resources for A$430m ($426m).

Sumitomo Corp has acquired a 50% stake in an Isaac Plains mine in Queensland, Australia from Aquila Resources for A$430m ($426m).

The Isaac Plains mine has an annual production capacity of 2.8 million tonnes.

A Korean consortium comprising of state-controlled Korea Resources Corp. (KORES), Korea Infrastructure Investments Asset
Management and K&P Partners Investment has signed an agreement to acquire 40% of local mining company Cambayas Mining Corp.

The definite agreement is expected to be signed on 30 July 2012.

Brazil Resources has entered into a definitive share purchase agreement with Luna Gold Corp. to acquire all of the issued and outstanding shares of Luna Gold (International) Corp, a subsidiary of Luna.

Luna Gold (International) Corp owns an indirect 100% interest in the Cachoeira gold project in Pará State, Brazil.

Highland Gold Mining has reached an agreement to acquire Klen, which holds the mining and exploration rights to the Klen gold deposit and the surrounding Verkhne-Krichalskaya property located in the Chukotka autonomous region in north eastern Russia for $69m.

The acquisition is subject to approval by the Russian anti-monopoly authorities, which is a condition precedent.

KEMET Corp has received regulatory clearance from the European Commission under the European Union (EU) Merger Regulation for its proposed acquisition of a 34% interest for $50m in NEC Tokin by KEMET Electronics Corporation, its wholly owned subsidiary.

The transaction is subject to conditions precedent, including obtaining required regulatory approvals.

Alphamin Resources announced closing of the acquisition of two permits surrounding the historic Manono Mine in Katanga Province in the Democratic Republic of the Congo for $2m.

The Manono Mine hosts deposits of cassiterite, columbo-tantalite and lithium.