CAMBODIA - Astra a step away from acquiring Ratanikiri

A subsidiary of global asset company Astra Resources has made the second last payment for acquisition of Nam Hai Mineral Joint Stock Company’s Ratanikiri gold mine in Cambodia. The mine is in the 220sqkm Ratanikiri exploration licence in the north-eastern Ouyadav district.

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CHINA - Inter-Citic takeover approved

The necessary regulatory approvals have been granted by the relevant People’s Republic of China authority for the acquisition of Inter-Citic Minerals by Qing Hai Mining Acquisition Corporation, a wholly-owned subsidiary of Western Mining Group. Qing Hai will pay Can$2.05 per share in cash for all of the issued and outstanding common Inter-Citic shares. The acquisition was given a green light by the Ontario Superior Court of Justice last month.  1

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CHINA - Jiangsu production ramp-up on schedule

Production at Galaxy Resources’ Jiangsu lithium carbonate plant has increased by 50% on the previous month with 428 tonnes of concentrate produced in October. This increase is in line with the company’s ramp-up schedule projected for the next 12 months.  1

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COAL - Cuesta to acquire Orion coal project

Emerging explorer Cuesta Coal will pay $18.2 million to acquire Hannigan & Associates’ Orion coal project in a strategic move that will see the company double its coal bearing strike length in Queensland’s Bowen Basin area.

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