Glencore is cutting out many of its intermediaries – the agents and dealmakers once essential to cracking the toughest markets – amid growing scrutiny of its operations around the world. Under pressure from its compliance division, Glencore is dismantling much of its global network of trading agents, according to people familiar with the situation.
Despite a turbulent second half in coal miner Wescoal’s financial year ended March 31, the company remains positive about achieving its ten-million-tonne run-of-mine (RoM) production target from the 2021 financial year.
Junior Ardea Resources will spin-out its Lachlan Fold Belt gold and base metal tenements, in New South Wales, into a new vehicle named Godolphin Resources.
In an initial public offering (IPO), existing Ardea shareholders will receive an in-specie distribution of 30-million Godolphin vendor shares at nil costs, as well as a priority right to subscribe for IPO shares.
Copper miner Sandfire Resources has made an improved A$167-million takeover offer for Africa-focused copper developer MOD Resources.
Under the offer agreement, each MOD shareholder could elect to receive either 45c in cash for each of their shares, capped at A$41.6-million or 25% of the overall consideration, or 0.0664 Sandfire shares for each MOD share held.
Chinese firm Ningbo Shanshan Co has taken an 11.8% shareholding in ASX-listed lithium developer Altura Mining, after acquiring some 251-million shares in the company.
Bavaria, Germany’s industrial powerhouse, wants the nation to stop burning coal by 2030, eight years before Chancellor Angela Merkel’s deadline.
Toronto-headquartered Chantrell Ventures has until 23:59 on Thursday to amend its offer for junior gold miner and explorer Alexandria Minerals to match that of NYSE- and TSX-listed Agnico Eagle Mines.
Energy resources firm Resource Generation (Resgen), which is listed on the ASX and the JSE, on Monday said the third and final member of the proposed lending syndicate for the construction of its Boikarabelo mine in South Africa had confirmed its participation in writing.
erman utility RWE AG is reviewing damage done by environmental campaigners who accessed the company’s Garzweiler openpit mine in Germany’s Rhineland on Saturday.
ASX-listed AVZ Minerals has struck a $5.5-million deal to acquire an additional 5% interest in the Manono lithium and tin project, in the Democratic Republic of Congo (DRC).
AVZ on Monday announced that it would acquire an additional 5% interest in Manono from joint venture partner Dathomir Mining Resources, taking its interest in Manono to 65%.