Pursuant to a share purchase agreement with diversified mining major Rio Tinto subsidiary Rio Tinto Holdings, and Canadian mineral exploration and development company Turquoise Hill Resources, Bermuda-based Mantos Copper will acquire about 13-million shares in copper development company Mason Resources. Copper-focused Mantos, which owns and operates two mines in northern Chile – Mantos Blancos and Mantoverde – will acquire about 7.5-million shares from Rio Tinto Holdings, representing about 9.58% of the outstanding Mason shares, and about 6.2-million shares from Turquoise Hill, representing about 7.98% of the outstanding Mason shares, at C$0.20 a share for an aggregate purchase price of about C$2.7-million. Mantos Copper will, therefore, acquire about 17.56% of the outstanding Mason shares.
HOUSTON–(BUSINESS WIRE)–Genesis Energy, L.P. (NYSE: GEL) today announced the commencement of a registered underwritten public offering of $550,000,000 in aggregate principal amount of senior unsecured notes due 2025. The notes will be co-issued with our subsidiary, Genesis Energy Finance Corporation, and will be guaranteed, with certain exceptions, by substantially all of our existing and future subsidiaries. We intend to use net proceeds from the offering to fund a portion of the purchase pr
TSX-V-listed Sarama Resources last week announced the completion of its C$1.85-million private placement. Sarama issued 10.27-million common shares to raise proceeds to advance the exploration of the resource properties in Burkina Faso, and for general working capital purposes.
CLEVELAND–(BUSINESS WIRE)–Cliffs Natural Resources Inc. (NYSE:CLF) announced today the expiration of and final results for its previously announced offer to purchase for cash (the “Tender Offer”) any and all of its outstanding 8.250% Senior Secured Notes due 2020 (the “Notes”). The Tender Offer expired at 5:00 p.m., New York City time, on August 4, 2017 (the “Expiration Time”). On August 7, 2017, the Company purchased $484,063,000 in principal amount of the Notes that were validly tendered an
TSX-listed Nautilus Minerals has closed its $2-million private placement under a subscription agreement with Mawarid Offshore Mining and Metalloinvest. The company issued an aggregate of 11.76-million common shares at an issue price of C$0.21 a share.
TSX-listed Silvercorp Metals has reported a first-quarter rise in net income attributable to equity shareholders of 134%, on the back of an increase in metal prices and the gains of the disposal of Silvertip mine’s net smelter return. During the three months to June 30, Silvercorp achieved a net income of $10.9-million, or $0.07 a share – owing to an increase in the realised selling price for silver, lead, and zinc of 5%, 35%, and 65% respectively, and the recorded $4.3-million gain on disposal. This compared favourably against the $4.7-million, or $0.03 a share, achieved in the first quarter of last year.
TLALNEPANTLA DE BAZ, Mexico–(BUSINESS WIRE)–Mexichem, S.A.B. de C.V. (BMV:MEXCHEM*) (“The Company” or “Mexichem”) announced today that it has reached a definitive agreement to acquire an 80% stake in Netafim, Ltd. (“Netafim”), an Israeli private company, from a company backed by the Permira Funds and other minority shareholders. Kibbutz Hatzerim, the founder, will retain the remaining 20% stake of Netafim’s share capital. The total enterprise value of the transaction is US$1.895 billion. Neta
Six directors of Aim- and ESM-listed Conroy Gold and Natural Resources were removed at a general meeting on Friday and the minority shareholder who called the vote now wants the remaining three to be removed too.
Conroy Gold, which explores in Ireland and Finland, reported on Monday that Patrick O’Sullivan was successful in his quest to have six board members removed, but that the resolution to appoint three new ones, including himself, had failed.
The ramp up of the Capricorn sapphire mine to 1.2-million carats a quarter has lifted Richland Resources’ half-year performance, with the Aim-listed company on Monday reporting a significant revenue increase.
The mine, in Queensland, delivered 1.96-million carats in the first six months of the year, comprising 700 000 ct in the first quarter and 1.26-million carats in the second quarter.
LONDEN–(BUSINESS WIRE)–LONDEN–(BUSINESS WIRE)– Vedanta Resources plc (the “Company” or “Vedanta”) (LSE: VED) heeft vandaag de afloop en de resultaten van zijn eerder aangekondigde overnamebod om geld te kopen (de “Tender Offers”) voor elk van zijn uitstaande US$ 774,772,000 6.00% obligaties tot 2019, CUSIP: G9328D AH3, ISIN: USG9328DAH38 (Regulation S); CUSIP: 92241T AH5, ISIN: US92241TAH59 (Rule 144A) (de “2019 Bonds”) en US$ 900,000,000 8.25% obligaties tot 2021, CUSIP: G9328D AG5, ISIN: US
ロンドン–(BUSINESS WIRE)—- （ビジネスワイヤ） — ベダンタ・リソーシズ（当社、LSE：VED）は本日、以前発表した発行済み残高7億7477万2000米ドルの満期2019年金利6.00%の債券（CUSIP：G9328D AH3、ISIN：USG9328DAH38（レギュレーションS）、CUSIP：92241T AH5、ISIN：US92241TAH59（規則144A））（以下「2019年債」という）および9億米ドルの満期2021年金利8.25%の債券（CUSIP：G9328D AG5、ISIN：USG9328DAG54（レギュレーションS）、CUSIP：92241T AG7、ISIN：US92241TAG76（規則144A））（以下「2021年債」といい、2019年債と合わせて「債券」という）のすべてに対する現金による公開買付（以下「公開買付」という）の終了と買付結果を発表しました。公開買付は、2017年8月3日ニューヨーク時間午前8時（以下「終了時間」という）に終了しました。終了時間時点で受領済みの有効応募額は、2019年債が5億2251万3000米ドル、
Drilling at the historic Tisová copper mine in the Czech Republic is set to start in early September, explorer Auroch reported on Monday.
An initial 12-hole drilling programme has been approved for the project, which hosts a volcanogenic massive sulphide-rich system previously mined for copper.
A West Australian Indigenous leader has defended the practice of Welcome to Country ceremonies, after a mining conference in Kalgoorlie tried to cancel his address.
Despite “pleasing” third-quarter production results, which showed an improved mining performance, reduced unit costs and increased net cash in July, platinum mining major Lonmin remains concerned by the persistent adverse macroeconomic conditions, as well as the inflationary cost pressures confronting the platinum mining industry. The company, which is headed up by CEO and COO Ben Magara, will, therefore, implement further measures to ensure that its operations generate sufficient cash to support a sustainable business, it noted in a statement on Monday.
It is important for the international community to not overreact to the perceived damage the Trump administration has done to the US, one of the world’s most influential bankers warns a mining forum in Kalgoorlie.
Nearly two years after unearthing a tennis ball-sized 1 109 ct rough diamond, Lucara Diamond Corp is considering forming a partnership to sell the stone if it still does not have a deal in the next six to eight weeks. Lucara, which failed to sell the world’s largest uncut stone at Sotheby’s auction house in June 2016, continues to receive offers, CE William Lamb said on a conference call with analysts on Friday.
A scramble by the lithium market’s biggest players to tie up supply of the high-tech metal is gathering pace in the 170-year-old heartland of Australia’s $90- billion mining industry.
Rising Chinese demand for lithium-ion batteries needed for electric vehicles and energy storage is driving significant price gains and an asset boom in Australia, already the world’s largest lithium producer. The fast-developing hub is drawing investment and deals from global producers as well as chemical-to-battery manufacturers in China, the top consumer.
The London Metal Exchange is seeking agreement from its network of metal warehouse owners to cut the rents charged for storage, which could boost the amounts of metal registered under LME warrant and improve transparency.
Rents for aluminium on warrant, which gives the material LME backing, currently averages around 54 US cents a tonne. Of that the exchange earns 1.1%. Rent for metal not under LME warrant is typically 10 cents or below.
As the Diggers and Dealers mining conference kicks-off in Kalgoorlie, a massive surge in demand from China for Perth Mint bullion has the bulls smiling.
With the largest number of mining high-flyers in years set to descend on Kalgoorlie for the annual Diggers and Dealers mining forum, what is driving the confidence amid WA’s continuing economic slump?
The company at the centre of one of Queensland’s longest running mine disputes says time is running out for the people who rely on it for jobs, as activist groups question New Hope’s exploration plans.
Once one of the richest gold mines in the world, the Blyvoor gold mine near Johannesburg has become a ghost town as scavengers strip it bare.
NEW ENTERPRISE, Pa.–(BUSINESS WIRE)–New Enterprise Stone & Lime Co., Inc. (the “Company”) has completed the refinancing of its Asset Based Loan. The refinancing extends the maturity of the ABL, reduces the borrowing margins by up to 1%, provides for greater advance rates and contains a seasonal overdraft feature. These changes should provide the Company with additional liquidity and financial flexibility to operate the business. Paul I. Detwiler, III, President and CEO of the Company stat
The local mining industry has made significant strides in executing trans- formation and promoting gender diversity in terms of women representation, with the number of women having increased from an “extreme minority” to exceeding 10% across different levels. According to the Chamber of Mines (CoM) 2017 fact sheet, it is estimated that about 57 800 women were employed in the industry from 2015 to 2016, compared with 11 400 in 2002. Women currently represent more than 13% of employees in the local mining industry, thereby exceeding the Mining Charter’s requirements.
Australia’s top gold producers are set to take their $5-billion acquisition spree global to secure growth as domestic opportunities fade and bullion’s gains swell their cash piles.
Companies including Evolution Mining and Northern Star Resources, Australia’s No. 2 and No. 3 producers, may be required to look to the US and Canada for acquisitions to add operations of sufficient scale and quality, according to Global Mining Research.
ASX-listed Aurelia Metals has unveiled plans to accelerate its debt reduction programme.
At the end of June, Aurelia held cash of about A$34.8-million while debt to mining major Glencore stood at A$109.61-million, of which A$37.57-million was senior debt and A$72.04-million was convertible debt.
SALT LAKE CITY–(BUSINESS WIRE)–$solar #CEA–Analysis from Consumer Energy Alliance finds solar incentives in Utah have reduced net costs of installing rooftop solar systems to record low levels.
Junior Artemis Resources will raise A$3-million to fund exploration work.
The ASX-listed company on Friday said that it had received firm bought deal commitments from a London institution and a professional Australian investor to raise A$3-million through the issue of some 23.7-million shares, at 12.66c each.
A scoping study has estimated that the Pilbara gold project, in Western Australia, will require A$78-million to build a mine producing 290 000 oz over five years.
ASX-listed De Grey mining told shareholders on Friday that the scoping study was based on an openpit mining operation and a purpose-built one-million-tonne-a-year oxide carbon-in-leach plant.
Gold developer Azumah Resources has launched a one-for-five non-renounceable rights issue to raise A$2.3-million.
The rights issue will be priced at 2c a share, which represents a 20% discount to the company’s 30-day volume-weighted average price on the ASX, and a 28.5% discount to the last closing price.
