Banpu Public’s subsidiary Banpu Minerals has entered into a bid implementation deed to acquire all the shares of Hunnu Coal for an estimated value of A$477m (US$498m).
Thailand-based Banpu has made an all-cash off-market takeover offer of A$1.80 (US$1.88) per share for Mangolia’s Hunnu Coal.
Petra Diamonds has completed the acquisition of the Finsch diamond mine in South Africa from De Beers Consolidated Mines for $192m.
The acquisition of the Finsch mine is expected to more than double Petra Diamond’s annual production, contributing 1.5 million carats per annum, and rising to nearly 2 million carats per annum by 2018.
The UK-based ENK has agreed to sell its Caldag nickel project in Western Turkey to a private Turkish firm for a cash value of $40m.
ENK will use the $40m to fund the bankable feasibility study at its Acoje nickel project in the Philippines, which is currently on track for completion in mid-2012.
Spanish firm Grupo Ferroatlantica SL’s subsidiary Thaba Chueu Mining has acquired South African firm Petmin‘s SamQuarz silica mine in Mpumalanga for R259m ($34.9m).
The final purchase price may be adjusted upwards to around R270m ($36.4m) once final approval has been secured from the Competition Commission and Department of Mineral Resources.
SamQuarz mine is the largest producer of high-quality silica in South Africa and has a stable production of 1.1Mtpa and a mine life in excess of 40 years.
Australian firm African Iron has completed the acquisition of an additional 12% of DMC Iron from two minority shareholders of DMC Iron Congo for a total value of A$12.4m (US$12.7m).
African Iron has paid A$5.8m (US$5.9m) in cash and A$6.6m (US$6.7m) in African Iron scrip at a deemed issue price of A$0.298 (US$0.306) per share.
African Iron, through its wholly owned Australian subsidiary DMC Mining, now holds 92% of the issued capital of DMC Iron Congo and consequently owns 92% of the Mayoko iron ore project in the Republic of Congo.
