TSX V- and Frankfurt-quoted Macusani Yellowcake said on Friday it agreed to buy Southern Andes Energy to grow its uranium exploration tenements in southeast Peru in an all-share deal. The friendly takeover will see Macusani’s shareholders owning 65% and TSX V-listed Southern Andes 35% of the combined entity. The deal will increase Macusani’s total land package in the district by 275% to over 900 km2, it said.

Gabon and mining firm BHP Billiton have reached a deal over the Belinga iron ore concession in Gabon after it was taken off China's CMEC, a government official from the Central African nation's government told Reuters on Friday. CMEC secured rights to the Belinga with a 2007 deal. But the project was shrouded in controversy and stalled first over concerns raised about environmental impact of the project and then over whether CMEC would be able to deliver.

Potash dealers are holding back from buying the crop nutrient even more than what North America’s second-biggest producer, Mosaic Corp, anticipated one month ago, prompting the company to idle up to 20% of its capacity up to May. However, like is larger competitor Potash Corp, the NYSE-listed company said it is just a temporary situation with 2012 set to be a record year for shipments.