US-based high productivity mining solutions provider Joy Global has entered into a definitive agreement to acquire a 100% ownership interest in Rowan Companies‘ Letourneau Technologies for $1.1bn in cash.
LeTourneau operates two business segments – mining products and drilling products – and manufactures large wheel loaders for surface mining.
With this acquisition, LeTourneau’s mining products business will be integrated with Joy Global’s P&H Mining Equipment business.
Australian firms St Barbara and Catalpa Resources are planning to merge to form a A$865m (US$914m) mid-tier gold company, which will have four Australian production assets, with a production capacity of about 480,000oz of gold in 2012.
Both the firms will enter into a merger implementation agreement on terms and conditions customary for the transaction, including the obtaining of all necessary shareholder, regulatory and court approvals.
Donaldson Coal’s assets include one open-cut and two underground mines, which produce thermal coal and semi-soft coking coal products in New South Wales, Australia.
Gloucester has also entered into an agreement with the Ellemby Holdings to acquire Ellemby and its controlled entities, named Monash, for a total value of A$30m (US$30m).
Fortis Mining has entered into agreements with Topsun Holdings and Yubang Industry Development to raise $224m from the issue of shares and convertible notes in the company.
The second trance payment of $24m raised from the net proceeds will be used for acquisition of Chelkar and Zhilyanskoe potash mines in Kazakhstan.
Treasury Metals will pay a total of $21m in cash and issue 11.5 million common shares to Pan American in consideration for Pico Machay.