Arcelor Mittal will buy back its 21.4% stake in Kumba Iron Ore‘s Sishen mine, which was arbitrarily awarded by the South African Government to Imperial Crown Trading 289.
The total consideration of the transaction is $110m.
Meanwhile, Japan’s Nippon Steel has acquired a 10% stake in Australia’s Foxleigh coal mine from Japanese trading house Itochu.
Element92 Resources has acquired the Guolanchong gold mine in Guangdong province, China.
Lucky Strike Resources has signed an agreement with Cheung Wan Energy Development for the acquisition of the Changyun coal mine project in China.
San Dimas produced 113,000oz of gold and 5.1 million ounces of silver in 2009.
Oro Gold and Oro Silver have signed an agreement to combine the companies through an arrangement where Oro Gold will acquire all of the outstanding securities of Oro Silver.
Innocent is set to acquire Murciealagos Vizcaya and Lilly Rai mining concessions located in the Zaruma-Portovelo mining district of Ecuador’s El Oro Province.