Polyus says $887m deal with China’s Fosun dropped

MINEX Forum | January 15, 2018
img0 Russia’s Polyus said on Monday that an agreement to sell a 10% stake in the company to a consortium led by China’s Fosun International had been terminated. A condition precedent to the transaction was not met, following which the agreement to sell 12 561 686 of the ordinary shares in Polyus for $70.6025 a share had been terminated, Russia’s top gold producer said. The transaction ...

Alrosa buys stake in Angola’s largest diamond deposit

MINEX Forum | January 12, 2018
img0 Russian miner Alrosa (MCX:ALRS), the world’s top diamond producer by output, received Friday approval from Angolan President Joao Lourenço to expand its stake in local producer Catoca. The deal, worth $70 million, gives Alrosa a further 8.2% stake in Catoca Mining, providing the diamond giant with access to a production base outside Russia. Deal gives ...

Rosatom keeps uranium mining flat at 3,000 tonnes in 2017

MINEX Forum | January 10, 2018
img0 Atomredmedzoloto (ARMZ), an affiliate of the mining division of the Russian state nuclear corporation Rosatom, maintained uranium mining in Russia in 2017 at the level of 3,000 tonnes, similarly to 2016, the company said on Wednesday 10 January 2018. “ARMZ completely delivered the annual plan of strategic feedstock supplies for the nuclear industry, keeping production ...

Azarga Metals to Acquire Remaining 40% of Unkur Copper-Silver Project

MINEX Forum | January 10, 2018
img0 AZARGA METALS CORP. (“Azarga” or the “Company“) (TSX-V:AZR) has received the conditional approval of the TSX Venture Exchange (the “Exchange”), subject to the Company’s disinterestedshareholder approval, to acquire the remaining 40% of the Unkur Copper-Silver Project to increase the Company’s interest to 100% on the terms announced on December 11, 2017. The Company has called an annual general ...