Mongolian Mining is to acquire the Baruun Naran mine in Mongolia from QGX Holdings for a total value of $464.5m.
QGX Holdings will receive $379.5m in cash and $85m in convertible bonds from Mongolian Mining.
Mongolia Mining may be required to pay as much as $105m extra if the total proved reserves in the mine exceed 150 million tonnes within 18 to 21 months.
Talvivaara has also entered an exclusive option agreement with Outokumpu Mining and Outokumpu Oyj, whereby it will have the right to acquire Outokumpu Mining’s remaining 16% shareholding in Talvivaara Sotkamo for €240m.
Zambia Consolidated Copper Mines Investment Holdings has agreed to sell its 2.28% stake in Equinox Minerals to Barrick Gold for more than $160m.
The offer presented an opportunity for Zambia Consolidated to realise value from its investment in Equinox, including an indirect stake in the Jabal Sayid copper and gold project in Saudi Arabia.
Zambia Consolidated bought the shares in Equinox for $30m in 2006.
Aquarius Platinum subsidiary Aquarius Platinum South Africa has agreed to acquire a 41.7% interest in Platinum Mile Resources from a combination of Mvelaphanda Holdings and PlatMile management for R115.5m ($17m), bringing the Aquarius group’s holding in Platinum Mile to 91.7%.
Sabina Gold & Silver has entered a definitive agreement with Xstrata Zinc to sell its 100%-owned Hackett River property and certain claims on the Wishbone Greenstone belt for total value of $50m.
Under the terms of the agreement, Sabina will reserve a silver production royalty equal to 22.5% of the first 190 million ounces of payable silver from the current resource at Hackett River and other properties, and 12.5% of all payable silver from the properties thereafter at no future cost to Sabina.