Analyst floats South32 – Teck Resources merger

Bloomberg resources analyst David Fickling has floated the idea of a merger between BHP spin-off South32 and Canadian mining firm Teck Resources.

Speculation rife on Rio Tinto’s Turquoise Hill acquisition

Rio Tinto took the reins of Turquoise Hill Resources (TRQ) back in 2011, buying up a controlling stake of 51 per cent.

South Africa’s Gold Fields maximises stake in Gold Road Resources

South Africa-based mining giant Gold Fields have increased their stake in Gold Road Resources to 10 per cent at a cost of $64.3 million.

Japan’s Sojitz to increase coking coal assets

The president of Japanese trading house Sojitz Corp, Yoji Sato, has announced plans to increase holdings of coking coal using funds from the planned sales of thermal coal assets.

South32 lays out $1.5 billion for new Arizona metals venture

Australian metals and coal miner South32 is ploughing $1.5 billion into a minority stake in Canada’s Arizona Mining, which aims to realise a zinc-lead-silver venture in Arizona.

Buyers circle potential Rio Tinto coking coal mine sale

Private equity firms and public companies are currently competing with each other over the sale of two Rio Tinto coking coal mines. Industry insiders believe that the acquisitions will give buyers the opportunity to get a foothold in one of this year’s strongest commodities. The official process for the mines, both located in Queensland, is ...

WA miner Griffin Coal’s parent company in receivership

Receivers have been appointed to take control of Lanco Resources International, the Singapore parent company of loss-making WA miner Griffin Coal. PwC took charge of Lanco last week at the direction of a secured creditor, believed to be Indian bank ICICI. Lanco Resources’s own parent company, Indian conglomerate Lanco Infratech has itself struggled with high ...

Queensland government approves New Hope Colton Coal mine

New Hope Coal has received approval for its A$300m Colton Coal open-cast mine project from the Queensland government. Approval for the project, located 10km north-east of Maryborough, included the granting of three mining leases. The estimated production capacity of the mine is around half a million tonnes of high-grade coking coal per annum and it ...

Goldcorp announces Exeter takeover bid

Canadian gold miner Goldcorp has announced it has launched a takeover bid for Exeter Resource Corporation, offering US$183 million for all outstanding Exeter shares. Exeter’s primary asset is its Caspiche project, a gold-copper mine in northern Chile with an oxide gold zone on the surface and a high-grade gold-copper core. According to Goldcorp, the project ...

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.

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