View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
September 15, 2011

Deals this week: Banpu Minerals, Petra Diamonds, ENK and more…

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 Mango

By cms admin

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.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Mining Technology