Glencore's chairperson defended an incentive plan for the commodity giant’s new chief executive officer, after prominent advisory firms urged investors to vote against it. Gary Nagle, the handpicked successor of outgoing CEO Ivan Glasenberg, will take over the helm of the world’s biggest commodity trader later this year.
Diversified miner Anglo American managed to meet strong customer demand during the quarter ended March 31, despite some limited constraints at certain operations as a result of Covid-19, CE Mark Cutifani says. He notes that production for the quarter was achieved at 95% of normal operating capacity.
ASX-listed Antipa Minerals will raise up to A$25-million through an institutional share placement and share purchase plan (SPP) to maintain its 35% interest in the Citadel joint venture (JV) with major Rio Tinto.
A significant number of commodities are set to experience strong demand growth over the next 20 years, while “conventional” commodities will receive an added boost as they take a central stage in the green and digital transitions, says financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions).
Diversified miner Exxaro Resources has appointed Geoffrey Qhena as an independent nonexecutive director and chairperson designate, with effect from April 19. Qhena, a chartered accountant, is presently a nonexecutive independent board member of Investec Bank and the chairperson of the South African Airways interim board.
ASX-listed Laneway Resources has completed the Stage 1 sale of its Ashford coking coal project, in New South Wales, to fellow listed Aus Tin Mining.
In exchange for a 40% interest in the project, Laneway has been issued a 20% shareholding in Aus Tin, which amounts to some 2.5-billion ordinary shares in the company.
Junior explorer Viking Mines will raise A$4-million in a share placement to sophisticated and professional investors to fund drilling at its First Hit gold project, in Western Australia.
The company said on Friday that it had received firm commitments for the placement of more than 111.11-million shares, at a price of 3.6c each, in an oversubscribed placement.
ASX-listed Rex Minerals has completed a A$9.5-million share placement to institutional and sophisticated investors.
The placement comprised 39.6-million shares, which were placed at 24c each under the company’s existing 15% placement capacity.
Chinese coking coal futures surged almost 6% on Friday, climbing to a three-month peak, after some major coal-producing regions ramped up their safety inspections, stoking supply concerns.
The Biden administration is considering singling out methane for significant reductions as part of a pledge to cut greenhouse gases in advance of a climate summit next week, according to two people familiar with the matter.