TMX buys 50% of MinesOnline
TMX Group (X-T) has bought 50% of Australia-based MinesOnline.com, an online global platform to connect buyers and sellers of mining and exploration assets and projects.
The platform’s customers include mining companies, investors, owners of mining assets and governments.
“This relationship will work to enhance value to mining companies, particularly in the face of increasing globalization and strong growth within the mining sector,” said Kevan Cowan, president of TSX Markets, in a press release.
The investment will bring together the diverse MinesOnline network of global mining companies and TSX and TSX Venture Exchange’s international network and issuer base.
“Through this investment by TMX Group, MinesOnline now provides a global platform and conduit to major financial institutions and mining companies from two great mining capital markets, Australia and Canada,” said Liam Twigger, managing director of MinesOnline, in a statement.
Stewart Group buys G&T Metallurgical Services
U.K.-based metals and minerals inspection and analysis firm Stewart Group has acquired
Kamloops, B.C.-based G&T Metallurgical Services (GTMET) for an undisclosed sum.
With the acquisition, GTMET will form a third division within Stewart Group – Mineralogy and Metallurgy – which will be led by GTMET president Tom Shouldice, operating alongside the two other preexisting divisions, Geochemical & Assay and Inspection & Analysis.
Financing for the acquisition came through a blend of debt and equity finance. The debt arrangements were coordinated by HSBC’s (U.K.) North West Corporate banking team along with HSBC Canada based in Vancouver. CBPE Capital LLP, Stewart Group’s private equity backer, provided additional equity finance.
“The international minerals inspection, testing and certification market is a fast moving sector, with many customers looking to form long-term partnerships as the range of services required diversifies,” said John Notman-Watt, Stewart Group’s managing director, in a press release. “It is essential in this competitive market that Stewart Group provides a full suite of analytical and inspection services to service the rapidly growing market driven by the increasing global demand for core commodities.”
SGS to open Liberian laboratory
SGS plans to open a new multi-purpose laboratory equipped for geochemical and metallurgical testing in Monrovia, Liberia, in July.
The new laboratory will service the growing needs of the minerals exploration industry in West Africa.
It will perform several geochemical procedures including: sample preparation for iron ore, gold and base metals; x-ray fluorescence analysis for iron ores; thermogravimetry analysis for iron ores; and ASTM methods that cover screening and particle size analysis for iron ores.
The facility will be equipped to be a regional centre of excellence for iron ore metallurgical testing. To service iron ore, it will provide a comprehensive range of bench-scale metallurgical testwork services including comminution and physical mineral separation.
Detour Gold gets US$105M for Cat fleet
Caterpillar’s (CAT-N) financial services wing has agreed to underwrite up to US$105 million to fund the mining fleet for Detour Gold’s (DGC-T) Detour Lake gold project in northern Ontario.
The financing will be used to acquire 23 Cat 795F 322-tonne haul trucks and ancillary equipment being supplied by Toromont (TLH-T), an Ontario Caterpillar dealer. Deliveries of the fleet are expected to begin mid-year and be completed in early 2013.
“We have crossed another important milestone in the development of the Detour Lake project,” said Gerald Panneton, president and CEO of Detour Gold, in a press release. “Detour Gold is delighted to have Cat Financial endorse the future Detour Lake mining operation and we look forward to completion of the facility.”
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