Trilliant Exploration Acquires Minority Stake in Global Diamond Resources, Plc

Trilliant Exploration Corp., a fully operational gold mining company with concessions in southern Ecuador, announced today that it has acquired a minority stake in privately held, Global Diamond Resources (GDR). The ?£1.5 million ($2.42 Million USD) investment was made by Trilliant Exploration’s wholly owned UK subsidiary, Trilliant Diamonds Ltd. Global Diamond Resources maintains a 93% interest... 

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Shengda Group Acquires 52 Percent of Sino-Top From Silver Dragon’s Chinese Joint Venture Partner

Silver Dragon Resources Inc. announce that Gansu Shengda Group Ltd., a private Chinese conglomerate, has agreed to acquire 52% of the equity interests in Sanhe Sino-Top Resources & Technologies, Ltd. from Huaguan Industrial Corp., Silver Dragon’s state-owned Chinese joint venture partner. Shengda and HIC have entered into an agreement whereby HIC will transfer 52% of its stake in Sino-Top... 

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GobiMin Signs Framework Agreement To Sell its Chinese Nickel Properties

GobiMin Inc. announce that it has entered into two revocable framework agreements with Xinjiang Xinxin Mining Industry Co., Ltd. to dispose of its three nickel-copper mining properties, namely Yellow Mountain East, Xiangshan and Yellow Mountain, in Hami, Xinjiang Uygur Autonomous Region of the People’s Republic of China. The proposed transaction will be facilitated through the sale of its two... 

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Castle Harlan Agrees to Sell AmeriCast for US$288 Million to Bradken

Castle Harlan, Inc., the New York private equity investment firm, announced that it had agreed to sell AmeriCast Technologies, Inc., a North American leader in the design and manufacture of large, complex steel castings, to Bradken Ltd., a leading publicly-traded Australian manufacturer of cast steel and other products, primarily for the mining and railroad industries, in a transaction valued at approximately... 

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Chinese nickel producer takes WA stake

China’s largest nickel producer, Jinchuan Group Ltd, has taken a 11 per cent equity stake in Perth-headquartered nickel explorer and producer Fox Resources Ltd. The news sent Fox shares north, up 15 cents, or 30.93 per cent, to 63.5 cents at 1229 AEDT on Monday. Jinchuan secured statutory approvals from the Chinese Government and the Provincial Government of Gansu Province to subscribe for 18.8... 

Zinifex wins control of Allegiance Mining

ZINIFEX Ltd has prevailed with its $790 million, three-month takeover battle for Allegiance Mining NL, announcing it has gained control of the nickel miner. Lead and zinc miner Zinifex, which was born from the ashes of the failed Pasminco Ltd, said it had increased its stake in Allegiance to 51.1 per cent from 44.78 per cent previously. Zinifex is to further diversify its production base through its... 

CVRD looking to bring new steel projects on stream – Brazil

Rio de Janeiro-based CVRD (NYSE: RIO) is in talks with international steelmakers to bring new steel projects to Brazil, CFO Fã¡bio Barbosa told analysts and investors in a presentation Thursday. Barbosa was speaking in São Paulo during an event promoted by finance industry trade group Apimec. CVRD has a 10% minority stake in the under-construction CSA steel mill in Rio de Janeiro state, due to start... 

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Norsk Hydro, UMC set joint bauxite study

Norway’s Norsk Hydro has agreed with Australia’s United Minerals Corporation (UMC) to explore the possibility of bauxite mining and alumina refining in the Kimberley region of Western Australia. “A final agreement would give Hydro a 75 percent holding in a potential bauxite and alumina project, in line with Hydro’s strategy to grow in primary aluminium production and raise its... 

Xinfa’s Australian investment hunts more bauxite

Cape Alumina Pty Ltd., part owned by Chinese aluminium group Chiping Xinfa Huayu Alumina Co Ltd., has gained approval to look further afield for bauxite in Australia, underscoring China’s hunger for the raw aluminium-making material outside its borders. Cape Alumina is prospecting in Australia’s bauxite-rich Cape York region, where world No.2 miner Rio Tinto Ltd./Plc. also has mining operations. Australia’s... 

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Beaconsfield Gold moves to control mine

Beaconsfield Gold says it has moved closer to gaining full control of its Tasmanian mine, which was the scene of a rock fall last April. One miner was killed in the collapse and two others were trapped for a fortnight. Beaconsfield Gold says it will buy a controlling stake in its joint-venture partner Allstate Exploration, which is in administration. The company will also purchase several million dollars...