Category: Uncategorised

Japan’s Sumitomo Metal becomes IAMGOLD partner in Canadian project

Japan’s Sumitomo Metal Mining Co. has become the official joint-venture partner of IAMGOLD Corp. The Canadian bullion producer has finished the sale of 30% of its interest in the Côté Gold Project, located in the Abitibi gold belt in Ontario. With the completion of the $195-million deal, IAMGOLD’s liquidity now exceeds $1 billion. The deal, ...

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 ...

Mining giants scramble to fill key leadership vacancies

BHP Billiton, Rio Tinto and Anglo-American, three of the world’s biggest miners are all racing to fill the top spots on their boards, following announcements that their chairmen are stepping down.

American iron ore assets targeted by UK’s Liberty House

Looking to expand its North American presence, British metals group Liberty House has placed bids to buy US-based Mesabi Metallics Co and ESML Holding Inc. Liberty House is placing the bid as part of the GFG Alliance, a group that includes resources and energy firm, SIMEC Group.  The GFG Alliance has said that amongst the ...

Cross-border M&A value highest in a decade

The value of global cross-border M&A transactions has reached a decade high of US$337 billion. This is a 13 per cent increase from the first quarter of last year. This comes despite a 10 per cent drop in the volume of cross-border transactions.

New Pacific pays $45m to acquire 7 silver mines in Bolivia

New Pacific has announced that it has agreed to acquire a 100 per cent interest in Empresa Minera Alcira S.A., a private Bolivian incorporated mining company, from its three shareholders free of any debt.

BHP reject hedge fund pressure to restructure as Australia signals readiness to veto on national interest grounds

Hedge fun Elliott Management is pressuring BHP Billiton to abandon its dual listing in Australia and the UK, as well as spinning off its US petroleum business to list on the New York stock exchange, it has been reported.

Asian coal markets hit by port disruptions and cyclone

Asia’s coal markets have tightened in March as Cyclone Debbie hit Australian mines and ports and the Indonesian government continued to investigate East Kalimantan provincial ports.

Former Minister found guilty over unionist mining lease

Former NSW Minister Ian MacDonald will be sentenced to a possible jail term after he was found guilty of misconduct in public office over the issuing of a mining lease.