BHP Billiton signed a definitive agreement with Athabasca Potash this week to purchase all its issued and outstanding common shares for C$341m ($321m) on a fully diluted basis.
The acquisition, which will strengthen BHP’s potash resources, includes Athabasca’s Burr Project and various potash exploration properties and a 6,900 square kilometre exploration permit area in Saskatchewan, Canada.
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Canada’s Teck Resources completed the sale of its gold production stake in the Andacollo mine near Santiago, Chile, to Royal Gold.
Teck’s Compañia Minera Teck Carmen de Andacollo has been given $218m in cash and 1.2 million common shares of Royal Gold as part of the sale.
Teck holds a 90% stake in Andacollo, while a Chilean state-owned entity holds the remaining 10%.
Also this week, Hanlong Mining Investment obtained approval from China’s National Development Reform Commission (NRDC) for $200m equity and debt investment in Moly Mines and to complete the subscription as per an agreement signed on 19 October 2009.
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By GlobalDataHanlong needs to receive approval from the Ministry of Commerce and the State Administration of Foreign Exchange (SAFE) to proceed with the investment.
Beadell Resources executed a conditional sale and purchase agreement to acquire a 100% stake of New Gold’s Brazilian subsidiary Mineração Pedra Branca do Amapari for $63m in a cash and scrip deal.
The acquisition includes the Amapari gold mine and 1% royalty of gross iron ore revenue obtained from the sale of iron ore from certain tenements of the Amapá Iron Ore Project.
South Africa’s Coal of Africa (CoAL) also completed the takeover of thermal coal producer NuCoal Mining for R467m ($61.4m) this week, which will strengthen CoAL’s position in South African coal production, transforming the company into a multi-site producer.
And CNNC International’s wholly-owned subsidiary China Nuclear International Corporation has signed a sale and purchase agreement with CNNC Overseas Uranium to acquire the 100% issued capital of Ideal Mining for HK$414m ($61.4m).
