Merger and acquisition on First Cobalt’s agenda

Toronto-based First Cobalt wants “to create one of the largest cobalt exploration companies in the world,” in Ontario, Canada.

Gemfields stock falls following Pallinghurst’s move to lower approval threshold for its bid

Gemfields’ shares fell over 2% after its largest investor Pallinghurst lowered the minimum number of acceptances from the company’s shareholders on its takeover offer. South Africa-listed Pallinghurst requires just 60% of Gemfields’ shareholders to back the deal, which it claims it has already received. However, China’s Fosun Gold — which has offered an 18% premium ...

Goldcorp offloads Camino Rojo gold-silver project in Mexico

The world’s fourth biggest gold miner, Goldcorp, is selling its Camino Rojo gold ad silver project in Mexico to Orla Mining. Camino Rojo, in Zacatecas state, is located about 50 kilometers from Goldcorp’s flagship Peñasquito mine. As part of the deal, the Canadian gold producer will receive 19.9% of Orla’s outstanding common shares, as well ...

‘Auspicious’ time for M&A, yet difficult to secure capital – mining survey

Original article by Henry Lazenby on Mining Weekly There is a clear indication that mergers and acquisitions (M&A) activity among smaller players in the mining sector will increase this year, while the majors will increase divestitures to focus on core commodities. This will, in turn, benefit some of the midtiers that are able to make ...

Osisko Gold Royalty stock soars as company signs ‘transformational’ $1.13B deal to buy U.S. assets

Montreal-based Osisko Gold Royalties Ltd. said it is more than doubling its precious metals portfolio with the $1.13 billion acquisition of diamond, gold and silver assets from U.S. private equity firm Orion Mine Finance Group. Osisko has been seeking out such a “transformational” acquisition since the company formed three years ago, said CEO Sean Roosen. ...

Can Yancoal raise finances outside China?

Yancoal continues to be dogged by questions about its ability to fund the acquisition of Rio Tinto’s Hunter Coal & Allied assets, despite being confirmed as Rio’s preferred bidder on Tuesday. Yancoal has previously been criticised for not being able to show how it would fund the planned mega-deal. This comes after it was revealed ...

Troubled Noble Group struggling to repair once-lauded reputation

Singapore-listed commodities giant Noble Group is still yet to recover from their share price plummeting by 70% this year following a series of damaging incidents for the business. The company is struggling to instil confidence in investors despite agreeing upon an 11th hour deal to extend a $2bn credit facility. The company, which has been ...

New rescue merger on the cards for Vantage Goldfields

Canada’s Galane Gold has proposed a rescue merger with embattled South African gold miner Vantage Goldfields, owner of the Lily Mine and Barbrook Mine. The Barbrook and Lily Mines near Barberton, South Africa, were put into administration last year, following a disaster in which a pillar in the Lily collapsed, causing three people to fall ...

Rio Tinto board gathers to weigh up Glencore’s $US2.3b coal deal disruption

The Australian Financial Review has reported that “Rio Tinto’s board will meet on Tuesday morning to consider Ivan Glasenberg’s $US3.47 billion ($4.56 billion) attempt to disrupt Yancoal Australia’s acquisition of the Anglo-Australian’s last and best outpost in Australian coal, Coal & Allied. The unscheduled London board meeting, whose outcome remains the subject of deep uncertainty, ...

Glencore chief lobbies Rio to back its rival bid for coal assets

Original published by Scott Murdoch in The Australian Glencore executives have made a direct pitch to Rio Tinto bosses in London to convince the board to back its $US2.55 billion ($3.35bn) bid to buy the Coal and Allied ­assets in the Hunter Valley. Rio Tinto and the Swiss-based mining house held discussions at the weekend ...

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