Asian Activities Report for October 14, 2011: Ironbark Zinc Limited (ASX:IBG) Executes US$50 Million Funding Facility To Fund Acquisition Strategy

Sydney, Australia (ABN Newswire) - Ironbark Zinc Limited (ASX:IBG) has entered into a US$50 million funding facility with Glencore International AG (LON:GLEN). The transaction will provide Ironbark with access to significant cash funding to pursue acquisition opportunities. Ironbark is currently advancing its flagship Citronen base metals project in Greenland to production.

Altura Mining Limited (ASX:AJM) has received Operation Production Mining approval for the Tabalong Coal Project in South Kalimantan, Indonesia. The Company will now seek permits required to allow coal mining to proceed. The Tabalong Coal Project is planned to commence in 2012 at an initial production rate of 400,000tpa of premium grade thermal coal with the plan to ramp up to 750,000tpa.

Republic Gold Limited (ASX:RAU) has entered into a Tenement Sale Agreement to sell its Far North Queensland assets to Territory Minerals Pty Ltd in return for consideration comprising a mix of cash and shares. The transaction is in line with the Company's strategy of focusing its efforts and resources on its flagship Amayapampa gold project in Bolivia.

Leighton Holdings Limited (ASX:LEI) today announced that its subsidiary Leighton Offshore had been awarded a major contract by Iraq's South Oil Company. The US$518 million contract forms part of the Crude Oil Export Facility Reconstruction Project, which is financed and supported through the Japanese Official Development Assistance Loan by Japan International Cooperation Agency. The Project aims to stabilise and expand Iraq's crude oil export capacity by constructing a pipeline connecting crude oil storage facilities to the offshore crude oil export terminal in southern Iraq.

Source:
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