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India Mining Companies, India’s Sterlite Not Agree Acquire $2.6 billion From Asarco
The acquisition of copper miner Asarco LLC for $2.6 billion by India-based Sterlite Industries Ltd. is in doubt after Sterlite said it was backing out of the deal.
Lawyers for Asarco told a federal bankruptcy judge in Texas on Tuesday that Sterlite “cannot and will not” close the sale unless Asarco agrees to a price reduction.
MONA Announce Plans To Acquire Peru Mining Company
MonArc Corporation is pleased to announce the company is currently negotiating the acquisition and or a merger of a Peru-based mining company. The Company in question has two properties under development. The first is a gold resource, while the second is a promising copper exploration
property. Both are located in key areas of interest in the [...]
BHP Billiton Big Expansion Iron Ore Mine Exploration in Brazilian
The global iron ore wars took another twist yesterday, with Rio Tinto giving the green light to a $US2.15 billion ($A2.27 billion) mine expansion on Brazilian soil.
The news came as BHP Billiton chairman Don Argus wrote to Rio shareholders as the world’s biggest miner keeps the pressure on its $150 billion takeover target during the [...]
Asian Economic Growth and Investment Future After Australian and China Forum
It is a match made in heaven – China’s ravenous appetite for raw materials and the billions of dollars’ worth of minerals lurking beneath the rust-red dirt of Australia’s vast outback.
Australians are growing rich, in large part because of the Chinese economic juggernaut, which has sent property prices soaring, propelled the stock exchange to [...]
Mechel Announces the Commissioning of an Automated Alumina Transshipment Complex at Port Kambarka OAO
Mechel OAO, one of the leading Russian mining and metals companies, announces the commissioning of an automated alumina transshipment complex, Albatross, at its subsidiary, Port Kambarka OAO, in line with its technical re-equipment plan.
The commissioning of the self-propelled weighing complex, Albatross, took place on July 7 during the celebration of Port Kambarka’s 65th anniversary. This [...]
Xstrata Offers $4 Billion for Canada’s LionOre Mining International, Which Accepts Proposal
Anglo-Swiss mining company Xstrata PLC on Monday said it offered $4 billion for LionOre Mining International Ltd., a Canadian nickel and gold miner, which accepted the offer.
Xstrata last year won a bidding war for Canadian nickel miner Falconbridge Ltd. with an $18.8 billion offer that gave Xstrata entrance to the North American market.The company’s cash [...]
New Alrosa chief says IPO possible if sales increase
Sergei Vybornov, the new president of Alrosa, said an IPO by the Russian diamond monopoly was possible, but only provided the company increases sales.
“I would not start talking about an IPO while sales are at around $3 billion. As soon as Alrosa opens up then things will become clear. A share float? Why not? But [...]
Private Equity Moves on the Mining Sector, Gold & the 79 Times
“PRIVATE equity,” Andrew Trounson writes in today’s Australian, “finally moved on the mining sector yesterday, as global heavyweight and dumped BHP Billiton (ASX: BHP) boss Brian Gilbertson returned to Australia to lead a $625 million offer to take 60 per cent of Perth manganese, chromite and nickel miner Consolidated Minerals (ASX: CSM). Backed by Russian [...]
Oil Glut Concealed by Rig Scarcity Making Drillers Better Bet
The professionals most familiar with the so-called oil shortage know there’s an estimated 3 trillion barrels under land and sea. That’s why they’re making their biggest bets in drilling rigs where the scarcity is no illusion.
Oil drillers “are the most attractive way to go,” said Don Hodges, who holds about 160,000 shares of Transocean Inc. [...]
