Deals this week: Vale, GVK, Adit Resources, and more

31 May 2012 (Last Updated May 31st, 2012 18:30)

Brazilian mining company Vale has entered into an agreement for the sale of its thermal coal assets to CPC, a unit of Colombian Natural Resources for $407m.

Brazilian mining company Vale has entered into an agreement for the sale of its thermal coal assets to CPC, a unit of Colombian Natural Resources for $407m.

Under the terms of the deal, Vale will sell 100% of its thermal coal mines El Hatillo and Cerro Largo in the department of Cesar, and its port terminal Sociedad Portuaria Rio Córdoba on the Caribbean coast.

Tara Minerals' subsidiary Adit Resources has entered into an agreement for the sale of American Copper Mining to Yamana Mexico Holdings, a subsidiary of Yamana Gold for $14m.

American Copper Mining is the holder of Adit's Picacho group of concessions.

Nova Mining Corp has extended the option agreement with Natural Resources Recovery Guyana (NRRG) for the five diamond, gold and timber harvesting concessions totaling 2,567ha in Northeastern Guyana.

The concessions are located in the Upper Cuyuni Basin - Greenstone Belt, Guyana, between the country's border with Brazil and Venezuela.

Blue Sky Uranium has entered into an arrangement agreement with Windstorm Resources to acquire a 100% stake of Windstorm in North America.

Under the terms of the deal, Blue Sky will purchase common shares of Windstorm in exchange for 8 million common shares of Blue Sky.

Ridgemont Iron Ore Corp has closed the transaction with IronOne to acquire all of its issued and outstanding common shares.

Under the terms of the transaction, Ridgemont has acquired all of the outstanding shares of IronOne in exchange for $11.9 million, payable in common shares.