Exxaro Resources has signed a binding agreement to acquire Total’s South African coal mines for $472m.

Under the deal, Exxaro will acquire the complete stake in Total Coal South Africa along with its export rights at the Richards Bay Coal Terminal and settle all outstanding loan claims.

Exxaro currently operates seven coal mines in the region that produce around 40 million tonnes of coal a year.

The company plans to fund the deal using its existing corporate debt facilities.

Minera IRL has entered into a deal with Compañía Inversora en Minas (CIMINAS) to sell Minera IRL Patagonia’s remaining shares for $11.5m.

Under the deal terms, CIMINAS will pay $9.8m after closure of the transaction and the remaining $1.7m in two halves, one within the next 90 days and the other after a year.

Following the sale, Minera will no longer hold an interest in Minera IRL Patagonia, which owns the Don Nicolás project in Santa Cruz province, Argentina.

At the end of 31 December 2013, Minera IRL Patagonia incurred a loss before tax of $15.7m, and was carrying a value of $43.7m.

Lonmin has signed a deal with the Bapo ba Mogale traditional community (Bapo) to help its South African subsidiaries meet the black economic empowerment (BEE) target in the country.

Upon closure of the deal, Lonmin will provide the Bapo community with ZAR564m ($52.7m) worth of shares annually for five years and make a cash payment of ZAR20m ($1.87m) as royalties.

In exchange, Bapo will waive its rights to collect royalties from Lonmin subsidiaries, Eastern Platinum and Western Platinum, for mining on land owned by the community.

The deal also allows Eastern Platinum to increase its share in the Pandora joint venture (JV) to 50%, by acquiring Bapo ba Mogale Mining’s sole asset of 7.5%.

The deal will increase Lonmin’s BEE equity ownership from 18% to 26%, the target set by the South African Government for companies to meet by the end of this year.

Mitsui has signed a memorandum of understanding (MoU) with Corporación Nacional del Cobre de Chile (Codelco) and Corporación de Fomento de la Producción (Corfo) to jointly promote technology development in copper and mining industries in Chile.

The MoU will allow Mitsui to invest in a venture capital fund, Copper innovations investment fund, under Corfo’s support programme.

The funds will be used to develop innovative technologies for improving copper mining processes and minimising water and energy requirement in the mining industry.

Under the deal, both Mitsui and Codelco aim to promote new business opportunities and grow the Chilean copper industry.

Marathon Gold has signed a deal with a consortium of underwriters represented by Canaccord Genuity to sell its flow-through common shares at C$0.55 ($0.50) per share.

The company will also sell its units at a price of C$0.50 ($0.45) or a total price of approximately C$3m ($2.74m).

The underwriters will have the option to purchase additional units or flow-through common shares for C$1m ($0.91m).

Closure of the deal, which is subject to regulatory approvals including clearance from the Toronto Stock Exchange, is expected to complete by 12 August.

Image: Several deals were signed this week. Photo: courtesy of iprostocks / FreeDigitalPhotos.net.