MinMet buys in Brazil

Exploration company MinMet will buy 100 per cent of Mineradora de Bauxita Limitada, a subsidiary of Toucan Gold. The acquisition is being funded through shares and $250,000 (£145,000) in cash. MBL holds priority claims over 600,000 hectares in Brazil. MinMet chairman Mr Jeremy Metcalfe said the company was delighted to acquire this ground.