GVK has signed an exclusive agreement to continue negotiations for the acquisition of Hancock Coal for $8bn.
Under the agreement, GVK must make an initial payment of $1.3bn or prove its capacity for the same within the exclusivity period.
Apart from the $4bn equity, GVK has to pay another $4bn as debt and mining development costs over the next six years, which brings the total estimate of the deal to $8bn.
New Gold has signed a definitive agreement with Richfield Ventures to acquire all the outstanding common shares of Richfield, for a total value of C$550m (US$575m).
Under the agreement, each Richfield shareholder will receive 0.9217 of a New Gold share for each Richfield share held.
Richfield Ventures owns Blackwater project in British Columbia, which has 1.8 million ounces of indicated gold resources and 2.0 million ounces of inferred gold resources.
Kinross Gold subsidiary Chikotka Mining and Geographical Company (CMGC) will repurchase 2.2 million shares, currently held by Chikotka Autonomous Okrug (CUE), for $350m, under a share purchase agreement.
On completion of the transaction, Kinross will own 100% of CMGC, which holds both the Kupol mine and the Kupol East-West exploration licences in the Chukotka region of the Russian Federation.
Taseko Mines of Canada will sell up to $200m of senior notes in a public offering, and will use the proceeds to fund the expansion of its Gibraltar mine in British Columbia, Canada.
Puda Coal subsidiary Shanxi Puda Coal has entered into separate coal mining rights and mining assets transfer agreements with three coal mines in Huozhou County, Shanxi Province, China for $42.33m.
According to the agreement, Shanxi Coal will pay about $14.98m for Jianzhuang Coal, $14.06m for Leijian Coal, and $13.29m for Fengshen Coal.
Beacon Hill subsidiary BHR Mining has entered into the MoU with Global Coke‘s subsidiary Global Minerals & Metals (GMM) to acquire a 100% interest in Licence 1165L in the Moatize coal basin in Northern Mozambique for $42m.
The acquisition of licence 1165L by BHRM is conditional upon completion of GMM’s acquisition of licence 1165L.