Copper Mountain gains approval for $71m acquisition of Altona

Inmet Mining is holding firm on the proposed friendly merger with Lundin Mining, saying there are significant risks associated with the hostile Equinox offer for Lundin announced last week. Inmet continues to believe the proposed merger of equals between Inmet and Lundin to create Symterra provides superior benefits to shareholders of both Inmet and Lundin without the risks associated with the Equinox offer, Inmet stated on Thursday.

The spectacular Carapateena discovery that Canadian Teck Resources had seen as its big foreign play until the global financial crisis, is now passing into the hands of OZ Minerals Ltd (ASX: OZL). OZ Minerals said this week it had paid $US240 million for the project, making an immediate deposit of $US10 M.

Pancontinental Uranium Corporation (TSX VENTURE:PUC) (“Pancon”) and its joint venture partner Crossland Uranium Mines Limited (“Crossland”) (ASX:CUX) are pleased to provide the […]

Institutional shareholders in Riversdale Mining are moving toward backing global miner Rio Tinto's sweetened A$3.9 billion takeover offer for the Mozambique-focused coal miner, Riversdale's chief executive said on Thursday. Rio Tinto raised its offer to A$16.50 a share on Thursday in a final bid to woo key shareholders who have held up the deal, and extended the offer for a third time, to April 1.

Riversdale Mining head Steve Mallyon has backed Rio Tinto's increased offer for the coal company, warning investors there was no hint of a competing bid, The Wall Street Journal reported. The global giant today said it would increase its offer to $16.50 a share from $16 a share, if it gained more than a 50 per cent interest in the Mozambique-focussed company by March 23. Rio said it would not increase its offer beyond that point unless there was a competing proposal.

Equinox Minerals would consider selling some of Lundin Mining's assets in order to clear off debt, the company's CEO said in a conference call to analysts on Thursday. Equinox has bid CAD$4.8 billion in a challenge to Inmet Mining's friendly merger with Lundin, but needs a $3.2 billion bridge loan, according to the story by Bloomberg. “We would consider asset sales in the context of non-core, non-copper assets,” Craig Williams, chief executive of the Perth-based company, said today. Equinox may sell Lundin’s Zinkgruvan zinc mine in Sweden, he said.

Northern Star Resources (ASX:  NST) said the resource inventory at its Paulsens Gold Mine in Western Australia has increased to 226,000 ounces while […]

Laconia Resources, a Perth-based exploration company, purchased Jabiru Metals Limited (ASX: JML) equity in the Lennons Find Base Metal project in the Pilbara region of Western Australia. Laconia made the announcement on Wednesday in a statement. Laconia also agreed to purchase Shaw River Resources (ASX: SRR) 100% interest in the nearby Yandicoogina project, located less than 10km along strike from the Lennons Find project.

Chinese companies wanting to invest in Australian resource firms have reassessed how they approach deals, and tensions over the last few years have evaporated, Australian Resources Minister Martin Ferguson said on Wednesday.