D.F. Barnes Services Limited (DF Barnes) has signed an agreement to acquire Burntisland Fabrications Limited (BiFab), a fabrication solutions provider based in the UK.
DF Barnes is engaged in the provision of fabrication, maintenance and industrial construction services for the mining, petrochemical and marine industries.
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The company is a subsidiary of contractor and fabrication services provider JV Driver Projects.
The Scottish Government is set to hold a minority stake in the new company following the completion of the acquisition.
Titan Minerals has entered a binding heads of agreement with Kairos Capital Holding Limited, Wong Sang Moon and Gyo Hee Kim to acquire the entire stake in Kairos Capital Peru and M&S Transportes y Servicios Generales for a sum of A$4.08m ($3.175m).
The purchase consideration includes a $2m cash payment along with the issuance of 131,768,112 ordinary shares priced at A$0.031 ($0.024) per share in three tranches.
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By GlobalDataAustralia-based Titan Minerals specialises in mineral exploration and development with a focus on gold and copper, while the Peruvian target companies are primarily engaged in the manufacture of mineralised materials.
Polymetal International has reached an agreement to acquire an 85% stake in Tarutinskoye.
In return, Polymetal has agreed to grant Tarutinskoye 100% of the stake in Vostochny Basis, the license holder of the Tarutin copper-gold deposit in the Russian Federation.
UK-based Polymetal is a precious metals mining company, while Tarutinskoye holds the licence for the East Tarutin copper-gold deposit and is based in Kazakhstan.
The transaction is expected to be completed in the second quarter of this year.
Singa Holdings Zambia has reached an option agreement with UK-based Cradle Arc to acquire Luiri Gold Mines for a consideration of $2.5m.
Zambia-based company Luiri Gold Mines currently holds the Matala and Dunrobin gold assets.
Cradle Arc will be entitled to earn a royalty of 1.5% of the gross revenue generated from the two assets under the deal, subject to a maximum net present value of $2.5m as calculated at a discount of 8%.
