Mitsubishi stake in Rio Tinto Hunter Valley coal assets to be sold to ‘superior bidder’ in deal

Mitsubishi stake in Rio Tinto Hunter Valley coal assets to be sold to ‘superior bidder’ in deal Rio Tinto’s sale of its Hunter Valley coal assets now hinge on Yancoal’s ability to prove the stability of their financing situation after Mitsubishi agreed to divest their stake in Coal & Allied to either the state-owned Chinese ...

Losses pile up for subsidiary of Barrick Gold following tax row with Tanzanian government

Acacia Mining, the African subsidiary of Canada’s Barrick Gold, is losing more than US$1 million in daily revenue after Tanzania has extended a ban on the export of gold concentrate.

Anglo American appoints Stuart Chambers as Chairman

Anglo American has appointed Stuart Chambers as its new chairman, the FTSE 100 company announced on Wednesday.

Takeover of Coal & Allied leaves $600 million black hole in finances of China’s Yancoal

Yancoal’s bid for Rio Tinto’s Coal & Allied assets has sparked concern about possible mining job losses in the Hunter Valley associated with a $600 million bid black hole.

Liberty Silver announces plans to acquire Bunker Hill Mining Complex

Canada’s Liberty Silver has announced plans to acquire Placer Mining’s Bunker Hill Mining Complex in Kellogg, Idaho.

Orion Mining takes official ownership of Blair Athol coal mine

The Queensland government has transferred the mining lease for the Blair Athol coal mining project to Orion Mining, officially completing the $1 acquisition.

Standard & Poors cast doubt over Yancoal-Rio Tinto deal finances

Financial uncertainty at commodities trader Noble Group, Yancoal’s second largest shareholder, has raised fears that the Chinese coal miner’s deal with Rio Tinto may be unviable.

South African mining firms ‘frozen out’ of Govt. consultation

The South African government is updating the country’s Mining Charter which is currently set to “dilute shareholders, raise costs and impose new levies to fund community development.”

Canada’s Champion Iron signs up Japanese partner for major iron ore venture

Canadian iron ore miner Quebec Iron Ore has signed an agreement with the Japanese commodities firm Sojitz to restart its iron ore mine in Bloom Lake Quebec, its parent company Champion Iron has announced.

Yancoal’s funding challenge to pay Mitsubishi for Rio mega-deal

Chinese-state miner Yancoal’s funding problems just got worse, after it offered US$710 million for Mitsubishi’s stake in a coal mine in Australia’s Hunter Valley.

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