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State-backed Jiangxi Copper, one of China's biggest copper producers, said on Monday it would buy Cupric Holdings Ltd from Pangaea Investment Management Ltd. The target held around 18.015% of First Quantum's issued share capital as of Dec. 9, according to a separate Jiangxi Copper filing to the Hong Kong stock exchange on Tuesday. The move adds to speculation about First Quantum amid heightened expectations for deals in copper, seen as a critical ingredient in low-carbon technologies.
DENVER-(BUSINESS WIRE)-$NEM--Newmont (NYSE: NEM, TSX: NGT) (Newmont or the Company) was ranked the top mining company in Newsweek's first-ever list of America's Most Responsible Companies for 2020. Of the 300 businesses selected for inclusion in Newsweek's index, Newmont placed 39th overall with a score of 79.6 out of 100. "Robust financial performance and effective risk […]
The chief justice urged private landowners to think big picture in their bid for a smelter owner to shoulder cleanup costs for 20,000 acres of land in Montana.
The "Hypereutectic Alloy: Emerging Markets" report has been added to ResearchAndMarkets.com's offering.
The "Metal Foam: Emerging Opportunities" report has been added to ResearchAndMarkets.com's offering.
Chile's Atacama salt flat may get all the attention when it comes to lithium, but the South American nation is looking to develop two lesser-known deposits of the mineral needed to power a global push into electric cars. Chile's mining minister, Baldo Prokurica, told Reuters on a trip to the Atacama region the government had asked state-owned copper giant Codelco and smaller state miner National Mining Company, Enami, to forge ahead with lithium projects in the region. "It seems to me, to say the least, a sin that companies with lithium holdings like this are not even working them," Prokurica said on a tour of the Aguilar and Infieles salt flats.
GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD; OTCQX: GLDLF) is pleased to announce that, further to its news release dated November 4, 2019, the Company has completed its indirect acquisition of the Yarumalito Gold Project located in Central Colombia (the "Project").
CME Group, the world's leading and most diverse derivatives marketplace, reached average daily volume (ADV) of 18.2 million contracts during November 2019. Open interest (OI) at the end of November was 131 million contracts.
Chile launched a massive $5.5 billion stimulus package on Monday after data showed its economy contracted 3.4 percent in October -- the largest year-on-year drop in a decade -- amid widespread social unrest. The package unveiled by Finance Minister Ignacio Briones includes boosting 2020 public spending by $3.03 billion, to support small, medium and large businesses. Another $525 million are earmarked for other initiatives like the renovation of the metro system in Santiago, which has sustained serious damage since protests erupted on October 18.
(Bloomberg) -- Zijin Mining Group Co. agreed to buy Continental Gold Inc. in a deal worth C$1.37 billion ($1 billion), marking the second takeover in as many weeks of a Canadian gold miner.Zijin will pay C$5.50 a share in cash for Continental and said major shareholder Newmont Goldcorp Corp. was supportive, according to a statement on Monday. The offer reflects a 29% premium to the share price from the past 20 days.The company, China’s biggest listed producer of mined gold, has been making deals across the world in recent years as it looks to bolster its exposure to gold and copper. The acquisition would give Zijin control of the Buritica gold project in Colombia, which is currently being developed. Output at Zijin Mountain, China’s top gold mine which the producer is named for, is dropping because of depleting resources. The deal comes just a week after Canada’s Kirkland Lake Gold Ltd. agreed to buy Detour Gold Corp. for $3.7 billion, furthering an M&A spree that’s swept the gold mining industry.There’s been constant speculation about gold mining acquisitions after huge deals rocked the industry in the last year: Newmont Mining Corp.’s acquisition of Goldcorp Inc. and Barrick Gold Corp.’s takeover of Randgold Resources Ltd. The two combinations created companies that dwarf the rest of the industry and mean that smaller miners feel the need to consolidate if they’re going to stay relevant to shareholders.To contact the reporter on this story: Thomas Biesheuvel in London at email@example.comTo contact the editors responsible for this story: Lynn Thomasson at firstname.lastname@example.org, Liezel HillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
BEIJING/TORONTO (Reuters) - China's Zijin Mining Group Co Ltd has agreed to buy Canadian miner Continental Gold Inc for C$1.3 billion ($1 billion), but a top executive with the target company said elevated security concerns in Colombia pose a risk to the deal. State-backed Zijin's offer for Continental, announced on Monday, aims to secure Continental Gold's flagship Buritica gold project in Colombia. "Zijin doesn't have any experience in Colombia, and we have obviously had some incidents in the past," Continental Chief Financial Officer Paul Begin told Reuters.
Glencore’s African copper business will be in the spotlight when the miner and commodity trader holds is annual investor briefing on Tuesday. The Swiss-based company, which is led by billionaire Ivan Glasenberg, has been grappling with a string of issues in the Democratic Republic of Congo and Zambia, which contributed to a sharp drop in half-year profits. Analysts and investors will be seeking an update on Katanga, where Glencore is targeting a large increase in copper and cobalt production by 2021, and also Zambia, where it is sinking three new shafts at its Mopani mine.
ARCO doesn't want to spend any more money cleaning up after the Anaconda Smelter in Montana. Landowners think the job's not done yet.
(TSX: LUN; Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") reports the following, in accordance with the Swedish Financial Instruments Trading Act:
The "Metal Foam Market by Material (Aluminum, Copper, Nickel), Application (Anti-Intrusion Bars, Heat Exchangers, Sound Insulation), End-Use Industry (Automotive, Construction & Infrastructure, Industrial), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
Chile has asked top lithium miner SQM to decide by year's end what it will do with its holdings in the Maricunga salt flat, the country's second richest in lithium, Chile's mining minister told Reuters.
The "Australia - Telecommunications Industry Report - Revenue Analysis & Forecasts, 2019-2023" report has been added to ResearchAndMarkets.com's offering.
Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) ("Aquila" or the "Company") announced that the environmental review panel ("Panel") for the Michigan Department of Environment, Great Lakes, and Energy ("EGLE") has upheld the Final Decision and Order previously made by an Administrative Law Judge ("Judge") in support of the Michigan Nonferrous Metallic Mineral Mining Permit ("Mining Permit") for its Back Forty Project in Michigan. By way of background, following the Judge's ruling in May 2019, the Menominee Indian Tribe of Wisconsin appealed the decision to the Panel, which is made up of technical experts from various fields. The Panel's decision marks the final step in the contested case challenge to the Mining Permit that began in April 2018 and represents EGLE's final decision.
(TSX: LUN; Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") provides the following production guidance for the three-year period of 2020 through 2022, as well as cash cost, capital and exploration expenditure forecasts for 2020. Additionally, the Company announces an anticipated 33% increase in the quarterly dividend and renewal of its Normal Course Issuer Bid ("NCIB"), both pending final approvals as detailed herein.
SnoFolio is excited to officially announce its financial support for Alpine racing phenom, Sam Dupratt via a helmet sponsorship. The sponsorship is the first of its kind for SnoFolio and marks the beginning of what the brand hopes to be a longtime tradition of supporting professional athletes competing within the FIS community.
Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company"), has today announced an exclusive agreement with Yunnan Energy to establish a joint venture to promote Electric Vehicle (EV) enablement within the Province, and into South East Asia through the province's designation as China's 'belt and road' partner.
The new Russian steel called Severkor for oil pipelines has been created by materials scientists at NUST MISIS in order to reduce the environmental risks of oil production and increase its efficiency due to increased corrosion resistance. A year ago, the first test pipe from the developed steel was installed at the Kokuysky oil and gas field in the Perm Krai territory in Russia. In the fall of 2019, Lukoil company has presented an expert opinion confirming Severkor's unique resistance to the aggressive environment of crude oil and salt solutions.
(Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on TwitterChile’s worst civil unrest in decades means the Democratic Republic of Congo is a more attractive proposition for mining investment, according to billionaire Robert Friedland.While Chile, the world’s top copper producer, seeks measures to quell the social unrest that exploded last month, the election of President Felix Tshisekedi earlier this year has improved the prospects in Congo, Friedland said at the Mines and Money conference in London on Monday. Ivanhoe Mines Ltd., founded by Friedland, is developing the world’s second-largest copper-mining project in Congo, with production due to start in 2021.“There is a new sheriff in town,” said Friedland, referring to Tshisekedi. Chile is now a “terrible place to invest in mining, while Congo is a really great place,” he said.Over more than two decades, mining investor Friedland and his small team have made some of the biggest mineral discoveries in the world.In addition to unearthing Africa’s largest copper deposit, other projects include building the Oyu Tolgoi copper-and-gold mine in Mongolia’s Gobi Desert and discovering the Voisey’s Bay nickel deposit in Canada, which he sold in 1996 for more than $3 billion. Ivanhoe is also developing a platinum mine in South Africa.“You have my sympathies,” said Friedland, commenting on investors in Chile. The billionaire is well known for making controversial comments.His statement drew the ire of the Chilean government, which touted the South American nation’s track record.“The person who expresses this opinion doesn’t know Chile,” Mining Minister Baldo Prokurica said in a voice mail. “Chile has a long history of a stable mining investment climate and one month of complex issues can’t erase that.”Congo also has its own issues to address. Companies mining and buying copper and cobalt from Congo must do more to fight corruption and child labor in the country, the Organisation for Economic Co-operation and Development said earlier this month.Friedland “is comparing us with Congo, which has a history of instability and of not respecting the rules of the game,” Prokurica said. “Chile is a serious country with clear and permanent rules.”(Adds Chile mining minister’s comments beginning seventh paragraph.)\--With assistance from Laura Millan Lombrana.To contact the reporter on this story: Elena Mazneva in London at email@example.comTo contact the editors responsible for this story: Lynn Thomasson at firstname.lastname@example.org, ;Luzi Ann Javier at email@example.com, Dylan Griffiths, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Gold has long been regarded as a safe haven for investors in times of market turmoil. One way investors can gain exposure to the precious metal is by investing in gold stocks, shares of companies engaged in the exploration and mining of gold.