Galaxy Resources Limited (GXY) announced it had been granted four mining leases surrounding the Mt Cattlin Spodumene mine by the Department of Mines and Petroleum. The company said two additional mining leases making up the West Kundip Manganese Project have also been granted. Galaxy said the Mt Cattlin leases are considered very prospective for pegmatite-hosted lithium-tantalum mineralisation, and outcropping spodumene (lithium) bearing pegmatite has been recorded from several areas on the new leases. The company said it is currently planning sampling and drill programs to follow up on pegmatite mineral occurrences with the aim of expanding the Mt Cattlin resource base. Galaxy said the West Kundip leases cover a sequence of Proterozoic sediments including dolomite units, which are prospective for manganese mineralisation.

Kangaroo Resources Limited (KRL) said it had raised $30 million through the placement of shares to institutional and sophisticated investors via a fully underwritten share purchase plan. The funds raised would be used to develop four coal projects in the East Kalimantan region of Indonesia, as well as the completion of other projects with at least two coal mines set to go into production within the next six months. The funds were raised through the placement of 88 million shares at 25c per share, an 18% discount to yesterday’s closing price of 30.5c per share.

Rio Tinto Limited (RIO) announced the completion of the sale Alcan Composites to Schweiter Technologies for a total consideration of US$349 million. The mining giant said it has announced asset sales of US$8.3 billion since February 2008 in addition to receiving a binding offer from Amcor in August 2009 for US$2.025 billion for Alcan Packaging global pharmaceuticals, global tobacco, food Europe and food Asia divisions. Meanwhile, Rio said the proposed sale of 56% of the Alcan Engineered Products Cable division to Platinum Equity would not be completed as the sale has been terminated.