Search
Global gold giant Barrick has launched an all-shares takeover of its African subsidiary Acacia Mining after concluding there is no other solution possible to Acacia’s damaging dispute with the Tanzanian government.
Barrick holds 63.9% of Acacia, and the offer of 0.153 of its shares for each of the Acacia shares it does not already own values the target company at $US787M.
Acacia, which continues to stress it has...
World-leading cobalt supplier Glencore will back FCC’s ambition to become the first North American refiner of battery-grade cobalt sulfate, signing a MoU to supply feedstock and financing for recommissioning its 100%-owned refinery in Ontario, Canada.
Glencore will collaborate on final flowsheet design with a view to bringing the 2,000-2,500tpa carbon in sulfate refinery into operation in 18-24 months, evaluate capital...
Private Chinese investor Tiesong Duan has backed Consolidated Tin Mines with a $A4M private placement supporting its project feasibility, exploration and production work at its key Australian projects.
The investment by Duan, who holds a highly diversified investment portfolio covering property, mining, foreign currency and equity investments, comprises 6.7M shares at 60.5cps.
It follows a $21M private placement last month by Wealth Pointer Global...
Eastern Goldfields MD David Quinlivan says the West Australian miner is on the home straight of its recovery from voluntary administration with commitments totalling $A30M from key institutional and high net worth investors for its capital raising.
They comprise binding commitments for about $22.4M for its convertible notes offer, with potential for more to come, alongside its fully subscribed $7.6M entitlement and shortfall offer.
Quinlivan says...
Global resources investor Cadence has reached a non-binding $US6M agreement to acquire up to 27% interest in the large-scale Amapá openpit iron ore mine in NE Brazil as it heads towards restarting operations in 2021.
The deal with Singapore-based trader Indo Sino also gives it first right of refusal on increasing its interest in JV company Pedra Branca Alliance to 49%.
The mine, idle since mid-2015...
Australian miner Consolidated Tin Mines has seen its net loss after tax for the Dec half-year (H1FY19) grow to $A20.7M, from its $16.1M loss in the pcp.
Consolidated’s Mt Garnet plant in N Qld processed 79,439t ore for metal in concentrate of 4,080t zinc, 707t lead and 269t copper as it focused on establishing sufficient ore supply from the refurbished Dry River South mine and newly developed Mount...
Zambia’s High Court has appointed a legal company as provisional liquidator of Vedanta-controlled Konkola Copper Mines, Reuters reports.
Zambian law firm Lungu Simwanza & Co has been appointed to oversee KCM a day after the president said Zambia planned to strip the company of its mining licence and bring in a new investor.
According to a court document, Lungu Simwanza has been appointed to act as provisional...
Lower commodity prices, particularly for zinc, lead, silver and aluminium, have helped push global natural resources company Vedanta Resources to a $US237M loss for the Mar 2019 year (FY19) from the previous year’s $239M profit.
| GLOBAL MINER VEDANTA PLUNGES FROM PROFIT TO FY19 $237M LOSS READ THE FULL STORY IN BULLETIN. ... |
Lower commodity prices, particularly for zinc, lead, silver and aluminium, have helped push global natural resources company Vedanta Resources to a $US237M loss for the Mar 2019 year (FY19) from the previous year’s $239M profit.
The preliminary results show an underlying attributable loss of $226M from a $166M profit, partially offset by higher oil prices, with the pre special items operating profit down 29% to $1.9B, mainly due to the...
The reappearance of skill shortages as the Australian mining sector emerges from its long downturn is forecast to create a tug of war as more industry professionals look for salary increases from employers determined not to fuel a new wages boom.
A salaries survey by recruitment firm Hays indicates that, while 88% of employers are prepared to pay more in 2019-20, the majority of them have no intention of agreeing to any more than 3%.