South African open pit mining firm Afrimat Limited (AFTJ.J) has withdrawn its offer to buy Australian-listed Universal Coal plc (UNV.AX), given the size and complexity of the transaction, it said on Wednesday. In April...
Mining
Coal India targets stakes in overseas coke mines
Coal India is looking for minority stakes in operational coking coal mines in Russia, Canada and Australia. Based on its experience it may gradually increase stakes, following which it may buy them out, and then look...
CIL to hire merchant bankers for acquiring stakes in Australian coal assets
State-owned Coal India will hire merchant bankers to carry out financial due diligence for acquiring equity stakes in identified mines and companies in Australia as part of its plan to meet the growing dry fuel demand...
China’s CNMC, trader ETG and Turkey vie for KCM – source
China’s Nonferrous Metals Mining Corporation (CNMC), commodities trader ETG Group and a Turkish firm have expressed interest in buying a stake in Konkola Copper Mines (KCM), a senior government source said, on condition...
Kazakh, Chinese firms eye Vedanta’s Zambia arm
Eurasian Resources Group and China Non-Ferrous Metals Co. expressed interest in buying Konkola Copper Mines, should the Zambian government succeed in seizing it from Vedanta Resources Ltd, people familiar with the...
Barrick Gold bids to acquire remaining Acacia shares
Canadian miner Barrick Gold Corp said on Tuesday it has proposed to acquire all of the shares it does not already own in Acacia Mining Plc through a share-for-share exchange of 0.153 Barrick shares for each ordinary...
NMDC mulls acquiring 100 percent stake in its Aussie arm-Legacy Iron
State-owned NMDC Limited is mulling owning 100 per cent stake in Australian arm Legacy iron by acquiring the remaining 24 per cent shares and delisting it from the Australian Stock Exchange (ASX), a senior official of...
Australia’s St Barbara snaps up Canada’s Atlantic Gold for $536 mln
Australian gold miner St Barbara said on Wednesday it will buy smaller Canadian peer Atlantic Gold Corp for C$722 million ($536 million), marking a second overseas acquisition for cashed-up Australian producers. St...
Saudi TAQA drilling unit to buy Schlumberger’s Middle East rigs
Saudi Arabia’s Industrialization and Energy Services Company (TAQA) said on Sunday its drilling subsidiary, Arabian Drilling Company, has agreed to buy Schlumberger’s Middle East onshore drilling rigs business in...
Aurelia Metals in talks to buy Glencore copper mine in Australia
Australian miner Aurelia Metals Ltd on Friday said it was in talks about a possible acquisition of Glencore’s CSA copper mine in the state of New South Wales. That comes after copper producer Aeris Resources Ltd earlier...
Vedanta Resources raises $1 billion through bond issue to repay debt
Miner Vedanta Resources said on Friday it had raised $1 billion through a bond issue and would use the proceeds to repay existing debt. The bonds, sold in two tranches, were issued through Vedanta’s...
Newmont shareholders OK $10 billion Goldcorp takeover, creating biggest gold producer
Newmont Mining shareholders on Thursday approved the company’s $10 billion takeover of Goldcorp Inc which is set to create the world’s biggest gold producer with assets across the Americas, Africa and Australia. About...
