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February 3, 2012
Reactions to Xstrata / Glencore merger talks

Yesterday’s announcement that Xstrata and Glencore were indeed talking to each other about a possible “merger of equals” has hit the fan, and stirred up a storm of comment around the world.

Yesterday’s announcement that Xstrata and Glencore were indeed talking to each other about a possible “merger of equals” has hit the fan, and stirred up a storm of comment around the world.

Everybody who’s anybody in world media has been saying today that this is the worst kept mining M&A secret of recent times, and they all have their own angle on it.

The name “Glenstrata” has been coined by someone (I know not by whom, but I offer my congratulations) as a name for the potential merged company.

January 23, 2012
Vale

When the world’s second largest diversified mining company Vale acquired the iconic Canadian nickel miner Inco five years ago it was the beginning of the largest investment in Canadian mining in the country’s history, as Cory McPhee explains.

When the world’s second largest diversified mining company Vale acquired the iconic Canadian nickel miner Inco five years ago it was the beginning of the largest investment in Canadian mining in the country’s history, as Cory McPhee explains to Gay Sutton.

 

May 23, 2011
Exxaro bids A$123 million for Territory Resources

South African miner Exxaro has made a takeover bid for Australian miner Territory Resources for A$123 million in cash.

South African miner Exxaro has made a takeover bid for Australian miner Territory Resources for A$123 million in cash.

Territory has an iron ore operation in Australia’s Northern Territory, with an operating mine at Frances Creek positioned close to rail and port infrastructure serving the port of Darwin. The mine produces approximately 1.6 million tonnes per annum of lump and fine direct shipping ore.

Territory also owns rights to iron ore tenements in the vicinity of Frances Creek.

April 25, 2011
Barrick Gold to acquire Equinox Minerals

Toronto-based Barrick Gold, the world’s largest gold miner, is building up its copper portfolio with an agreement to acquire copper producer Equinox Minerals.

Toronto-based Barrick Gold, the world’s largest gold miner, is building up its copper portfolio with an agreement to acquire copper producer Equinox Minerals.

Equinox has two primary assets, the Lumwana mine in Zambia (100 per cent owned) and the Jabal Sayid development project in Saudi Arabia (70 per cent owned, but Equinox is in the process of acquiring the remaining 30 per cent).

March 10, 2011
Rio Tinto raises Riversdale bid again

Anglo-Australian mining giant Rio Tinto has made another increased bid for Riversdale Mining.

Anglo-Australian mining giant Rio Tinto has made another increased bid for Riversdale Mining in an effort to convince shareholders to accept its acquisition proposal.

The new bid values the Australian owned coal miner at $4 billion. Rio first offered $3.5 billion last December, before improving the offer slightly later the same month.

The new bid represents an increase from $16 a share to $16.50, but Rio wants more than 50 per cent of shareholders to accept the bid by 23 March.

January 10, 2011
Xstrata could be close to acquiring Drummond

Anglo-Swiss mining giant Xstrata is said to be close to acquiring Drummond, Colombia’s second biggest coal miner, according to a report in UK newspaper the Sunday Times.

Anglo-Swiss mining giant Xstrata is said to be close to acquiring Drummond, Colombia’s second biggest coal miner, according to a report in UK newspaper the Sunday Times.

It is thought that family-owned Drummond could be sold for around $8 billion (£5 billion). The company was put up for sale last year.

A number of other mining giants, including Rio Tinto, Vale, Vedanta Resources and Essar Energy, are thought to also have been interested in Drummond.

December 15, 2010
Wesfarmers Curragh Pty Ltd

Rod Bridges tells Andrew Pelis about the changes he has implemented at the Curragh mine and how these have resulted in big savings.

Rod Bridges tells Andrew Pelis about the changes he has implemented at the Curragh mine and how these have resulted in big savings.

 

Global demand for coal continues apace, with mining companies across Australia enjoying something of a boom period. For a business like Wesfarmers Curragh, the key has been to implement cost-effective mining processes to make the most of buoyant market prices.

September 15, 2010
Rio Tinto to expand diamond operations

London-based miner Rio Tinto has said it will spend £518 million expanding its diamond operations.

London-based miner Rio Tinto has said it will spend £518 million expanding its diamond operations.

The mining group’s diamond business is often overlooked, due to the success of its primary iron ore, copper and coal operations. However, its diamond unit is the third-largest in the world behind industry leaders De Beers and Alrosa.

Rio Tinto’s diamond division is based on three mines, including Argyle in the north-western desert area of Australia.

September 8, 2010
Kennecott Eagle Minerals

Kennecott Eagle Minerals has been feeling its way through the tough new mining law and regulations enacted in the State of Michigan in 2004. General manager Jon Cherry talks about the challenges and why the new law will benefit the mining community.

Kennecott Eagle Minerals has been feeling its way through the tough new mining law and regulations enacted in the State of Michigan in 2004. General manager Jon Cherry talks to Gay Sutton about the challenges of the process and why the new law will benefit the mining community.

 

July 27, 2010
Profits rise by 217 per cent at African Barrick Gold

African Barrick Gold has reported a half year net profit rise of 217 per cent.

African Barrick Gold has reported a half year net profit rise of 217 per cent.

Profits at the miner soared to $99 million (approx. €76 million) on the back of increased production and the rising price of gold.

Revenue rose by 64 per cent to $424 million (approx. €326 million) and production by 23 per cent to 356,208 ounces. Realised gold prices jumped by 28 per cent to $1,155 (approx €888) per ounce.

December 1, 2009
Newmont Asia Pacific

Everything is large in scale at Newmont Mining Corporation’s Boddington mine in Australia, including ethical responsibility. Tim Netscher, senior vice president of Asia Pacific operations, tells Gary Toushek about it.

Everything is large in scale at Newmont Mining Corporation’s Boddington mine in Australia, including ethical responsibility. Tim Netscher, senior vice president of Asia Pacific operations, tells Gary Toushek about it.

 

July 1, 2009
Foskor

Rich resources
A domestic monopoly doesn’t necessarily mean that hard-headed business decisions aren’t on the agenda at Foskor, as Alan Swaby learns.
Foskor, South Africa’s only miner of phosphate rock, was set up in the 1950s by the South African Industrial Development Corporation when it felt the need to have an internal supply of raw material for fertilizer rather than having to rely on imports.

March 18, 2009
Goldcorp

All that glittersClaude Lemasson tells Gary Toushek how people-centric policies have helped Goldcorp go from junior miner to the world’s second-largest gold company. These days Claude Lemasson spends a lot of time traveling between his Toronto office and the James Bay area of northern Québec, looking after his current priority, the Éléonore project, a major new gold discovery situated within a relatively unexplored area of James Bay, in Cree Nation of Wemindji territory.