Southern Hemisphere Mining Limited (TSX VENTURE:SH)(ASX:SUH) has announced that it has today formally documented an agreement with Centralian Mining Pty Ltd. to acquire 25 concessions or licenses located in Chile which are prospective for iron sands.
Brockman Resources, an up and coming Australian iron ore producer, has received a takeover bid offer from its main shareholder, Wah Nam International Ltd. The Hong Kong based company currently owns 23% of Brockman Resources through a subsidiary. The Pilbara miner has been valued at $929.6 million by the Chinese company.
Afghanistan is looking forward to exploring its mineral resources with the help of Indian investments. Wahidullah Shahrani, Minister of Mines for Afghanistan is also hoping that the road shows being held in New York and London will also attract new investments in Afghanistan.
ArcelorMittal has offered $433 million to Baffinland Iron in a deal which is favourably viewed by both the board and major shareholders.
Xstrata is keen on setting up a global iron ore unit as it looks to making more acquisitions. The company has begun the process of creating its own iron ore division by making a US$520 million bid for Sphere Minerals Ltd (ASX:SPH).
The world's largest steel producing company, ArcelorMittal, has decided to buy Baffinland Iron Mines Corp for Canadian $433 million. Its subsidiary ArcelorMittal South Africa Ltd which made the bid had been worried about heading into a bidding war with rival Nunavut Iron Ore. However no competing bid is currently expected.
The Chinese domestic mining industry is set to get a major financial shot in the arm as it gets ready to spend 30 billion yuan or almost 4.5 billion dollars on domestic exploration activities over the next five years. The hunt for domestic mineral deposits is part of an effort by China to reduce its reliance on imported material.
Sudan is all set to give its fledgling mining industry a boost by signing ten new deals. The 10 exploration deals for gold and other minerals hope to diversify the dependency on the oil producing south.
NSGold Corporation (NSX : TSX-V) reported that it has acquired, through staking, 299 claims totalling 4,838 hectares in Pictou County, Nova Scotia. These claims are in two blocks; one block of 257 contiguous claims (3,996.6 Ha) in 3 licenses and one block remote from the others of 52 claims (841.4 Ha) in one license. These claims are located 110 km North East of Halifax, NS and 30 km East of New Glasgow, NS.
Alturas Minerals Corp. (TSX VENTURE:ALT)(BVLAC:ALT) announced that its 100% Peruvian subsidiary Alturas Minerals S.A. has entered into an agreement with the Origen Group S.A.C, on its 100% owned 900 hectare Pampa Colorada claim located in northern Peru.
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