Australian analyst lambasts acquisitions as a way for companies to grow

David Errington, an analyst at Bank of America Merrill Lynch, said companies would do well if they focused on investing in their core business instead of acquiring other companies in their quest for growth, The Australian reported.

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Robust Resources Ltd

Robust to raise A$25.5M to buy Talas gold-copper project in Kyrgyz Republic

Sydney, Australia-based precious and base metals explorer Robust Resources will raise A$25.5 million via share issue to fund the acquisition of the Talas gold-copper project located in the Kyrgyz Republic.

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Axiom Mining

Australian miner Axiom acquires gold-silver-copper project in Solomon Islands

Queensland, Australia-based mining and exploration firm Axiom Mining acquired the gold-silver and copper-gold mineralization West Guadalcanal Project located in the Solomon Islands for an undisclosed amount.

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Balmer Lawrie & Co Ltd

Balmer Lawrie buys Indian travel venture Vacations Exotica

Kolkata, India-based public sector enterprise Balmer Lawrie & Co Ltd bought Mumbai-based travel venture Vacations Exotica including its employees and customers from Vacations Exotica Destinations Pvt Ltd for an undisclosed sum.

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Babcock International Group

Babcock International Group adds Oman-based training institute

London, UK-based engineering and support services firm Babcock International Group added Oman-based oil and gas training organization National Training Institute (NTI) for an undisclosed sum to extend the latter's training services to the UK.

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Coal mine

Universal Coal agrees to acquire Exxaro's coal mine in South Africa

Australia-listed coal mining firm Universal Coal agreed to acquire the assets and liabilities of Exxaro Resources' New Clydesdale colliery (NCC) in South Africa for an undisclosed amount.

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African mineral exploration

African mineral exploration poised to drop amid lack of funding sources

African mineral exploration activity is poised to drop by 15% to 20% in 2014 as sources of funding have dried up due to difficult economic problems, according to David Cox, senior sales executive of SNL Metals Economic Group.

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Sulzer Ltd

Swiss firm Sulzer inks deal to purchase majority of Saudi Pump Factory

Winterthur, Switzerland-based industrial engineering and manufacturing firm Sulzer Ltd inked a deal to purchase a 75% interest in Saudi Pump Factory together with the latter's owner Nabil Al Hashim, in a deal valued at CHF33 million.

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Xanadu Mines

Xanadu to acquire copper-gold project in Mongolia for $14M

Exploration company Xanadu Mines, together with its joint venture firm Mongol Metals, have agreed to purchase a 90% stake in the Kharmagtai copper-gold project in Mongolia from Turquoise Hill Resources in a $14-million deal.

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Innovation firm 3M backs Chile-based Lixivia

Innovation company 3M has supported Chilean firm Lixivia. The investment was made through 3M's New Ventures Business but terms of the deal were not disclosed.

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Chemical Industries of the Philippines Inc (Chemphil)

Philippine chemical manufacturer Chemphil gets approval for sale of entire stake in LMG

Philippine-based industrial chemical manufacturer received approval from its board for the sale of its entire 69.92% stake in LMG Chemicals Corp to businessman Norman Ng.

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Glencore-Xstrata to divest stake in Tampakan copper-gold mine in the Philippines

Baar, Switzerland-based mining giant Glencore-Xtstrata is preparing to divest its stake in the Tampakan copper-gold mine in South Cotabato, Philippines, according to a disclosure to the Australian Stock Exchange.

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3D-printed shoe insoles printer SOLS closes seed funding round with $1.75M led by Lux Capital

Custom 3D-printed insole maker SOLS closed its seed funding round with $1.75 million. Led by Lux Capital, other investors also participated in the financing round for the firm that aims to provide wearers with the perfect fit and better performance, TechCrunch reported.

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Europa Oil & Gas

Chief of UK-based Europa Oil now holds 0.88pct stake after an open offer

Hugh MacKay, the chief executive of UK-based hydrocarbons exploration and production firm Europa Oil & Gas, now holds a 0.88% stake in the company after it held an open offer for 19.3 million shares.

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Miclyn Express Offshore (MEO)

ASL Marine to acquire Miclyn Express Offshore shipyard in Indonesia for $20M

Singapore-based shipbuilder ASL Marine Holdings agreed to acquire Miclyn Express Offshore's shipyard in Batam, Indonesia for $20 million through it subsidiary PT Sukses Shipyard Indonesia.

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