Newmont Mining has signed an agreement to acquire all of Fronteer Gold’s outstanding common shares for C$2.3bn (US$2.3bn).
Under the agreement, Fronteer Gold shareholders will receive C$14 (US$14) in cash and one common share in a new company, Pilot Gold, which will own certain exploration assets of Fronteer Gold, for each common share.
Vedanta Resources Group subsidiary Sterlite Industries has completed the acquisition of a 74% interest in Black Mountain Mining in South Africa from Anglo American Group.
Under the transaction, valued at US$348m, Sterlite has acquired the Black Mountain Zinc mine and Gamsberg zinc project for a share value of US$260m and a replaced shareholder loan of US$88m.
Rio Alto Mining has exercised its option with IAMGOLD Quebec Management and acquired 100% of the La Arena gold-copper project located in north-central Peru.
Rio Alto paid the exercise price of US$49m cash towards the acquisition.
Imperial Metals subsidiary Red Chris Development Company has signed a definitive agreement with American Bullion Minerals to acquire all of its issued and outstanding common shares for US$22m.
Latin Resources has acquired a highly prospective iron and mineral sands deposit in Peru for US$20m.
The amount is payable in cash over a period of ten years providing funding flexibility.
The acquisition includes 20 mining concessions totalling 140km2 of iron and heavy mineral sands tenements at Guadalupito in Peru.
