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Whitehaven Coal says bid process nearing conclusion

Australian coal miner Whitehaven Coal said a formal process to find a bidder for the company was nearing a conclusion and interested parties have completed due diligence. Whitehaven said on Wednesday it was in was in talks with the parties to decide which proposal, if any, would be recommended by its board

Chinese group makes billion-dollar bet on B.C. coal: Globe

A coal project in northeastern B.C. that is being developed by a Chinese consortium could produce up to 2 million tonnes of met coal annually for the next 30 years, the Globe and Mail reports: A Chinese group is making a $1-billion bet on coal in British Columbia to secure a key raw material for its steel making industry, the latest in a series of moves this year by international companies to stake a claim on Canadian resources.

Mercator Minerals acquires Creston Moly Corp. for C$195 million

Vancouver-based Mercator Minerals has acquired Creston Moly Corp. in a stock and cash deal amounting to C$195 million, Mercator announced Tuesday in a press release. Under the arrangement, Creston shareholders will receive 0.15 of a Mercator common share and $0.08 in cash, for each common share of Creston — representing a respective 43% and 40% premium on the companies' share prices as of market close on Friday.

Update on regulatory approvals for Consolidated Thompson Iron Mines arrangement with Cliffs Natural Resources

Consolidated Thompson Iron Mines announced that Cliffs Natural Resources has received approval under the Investment Canada Act for completion of the plan of arrangement pursuant to which Cliffs will acquire all the outstanding common shares of CLM. The closing of the Arrangement remains subject to certain other customary conditions, including obtaining approval of the MOFCOM filing with the Anti-Monopoly Bureau of the Ministry of Commerce of the People's Republic of China.