Riversdale Mining has signed an agreement with Wuhan Iron and Steel Group for the acquisition of a 40% interest in the Zambeze coal project in Mozambique for a total consideration of $800m.

Mitsubishi Corporation said it has completed the acquisition of International Finance Corporation’s 2.5% stake in Minera Escondida, a Chilean company that owns the world’s largest copper mine.

Mitsubishi will hold the participation through a joint venture company that is 50% owned by Mitsubishi, 40% by Nippon Mining & Metals and 10% by Mitsubishi Materials Corporation.

Paramount Gold and Silver will buy Canada’s X-Cal Resources, which owns the Sleeper gold project in Nevada.

Cardero Resource acquired a 49.5% interest in the Coalhunter Mining Coorporation this week, which has the right to acquire a majority interest in the Carbon Creek coalfield in north-eastern British Columbia.

Sierra Resource Group has acquired an 80% stake in a former Arizona copper mine from Medina Property Group and plans on reopening the idle mine within six months.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Meanwhile, New Dawn Mining bought an 89% stake in Central African Gold.

The transaction will help to control gold-mining assets in Zimbabwe and a 100% interest in Olympus Gold Mines.

New Dawn said the acquisition will increase the company’s gold resource base and mining capacity in the country to support a consolidated yearly production rate of 50 000oz of gold to 60 000oz within the next 18 to 24 months.