Arch Coal has signed a definitive agreement with International Coal Group (ICG) to acquire all the outstanding shares of ICG for $14.60 per share, in an all-cash transaction valued at $3.4bn.
The combined company will be the second largest metallurgical coal supplier in the US, with a total of 5.5bn tons of coal reserves.
ICG’s assets include 13 active mining complexes and one major mining complex under development across three coal basins.
Aquarius Platinum has entered into a binding sale of rights agreement with Northam Platinum and its subsidiaries to acquire the platinum group metals (PGM) and associated base metals mineral rights on farms adjacent to Aquarius Platinum‘s Everest mine is South Africa.
Aquarius Group companies will pay the sum of R1.2bn (about $179m) to the Northam Group, subject to certain conditions being met.
The acquisition cost will be funded both from Aquarius’ existing cash resources and from future cashflow generated by operations.
Lake Shore Gold has signed an agreement with Barrick Gold to acquire the Fenn-Gib and Guibord Main properties, collectively known as the Fenn-Gib project.
Under terms of the agreement, the Lake Shore Gold will pay C$60m (US$62m) to acquire 100% of the Fenn-Gib project.
Baosteel Resources will acquire 9.9% of Canadian mining company Noront Resources‘ C$17.4m (US$18.23m).
According to the contract, Baosteel Resources may also choose to spend another C$11.7m (US$12.27m) to take advantage of its stock options warrant with Noront Resources and increase its share holdings to 14.5%.
Orex Minerals has received TSX Venture Exchange approval to acquire Northland Resources‘ non-ferrous projects in Sweden, including the Barsele gold project.
The total value of the transaction will be $15.5m including a mix of upfront cash and shares, as well as deferred cash and share payments, guaranteed investments and a 2% Net Smelter Royalty.
Northland will receive a total of $5m in cash over two years and $3.5m of Orex shares to be issued over a period of four years.