Any significant changes to the corporate structure of Anglo-Australian miner BHP Billiton would need to be consistent with a "national interest" test under the law, the Australian government said on Tuesday.
Tegeta Exploration & Resources, a company part-owned by South Africa’s Gupta family, reached an arbitrated settlement over a fine levied on its Optimum coal mine by power utility Eskom Holdings.
Bauxite developer Metallica Minerals has raised about A$2.5-million in a renounceable rights issue to fund the commissioning of its Urquhart bauxite project, in the far north of Queensland, with first production targeted for the middle of this year.
The usual suspects have planted their flags along the dusty byways of the Permian Basin, declaring where they’ve staked claims. There are names like Royal Dutch Shell, Anadarko Petroleum, Pioneer Natural Resources. And, on signs fronting a barbed-wire fence, BHP Billiton.
Oil and gas major Santos has repaid $250-million of its $1.2-billion export credit agency- (ECA-) supported uncovered syndicated facility, which was scheduled to mature in 2019.
The ASX-listed company told shareholders on Tuesday that the early repayment would result in gross interest savings of about $5.5-million a year.
Coal developer Paringa Resources has completed a bookbuild to raise A$53-million to complete the financing of its Poplar Grove mine, in Western Kentucky’s Illinois basin. The company on Tuesday told shareholders that it had received commitments for the placement of 102-million shares, at an issue price of 52c each, to institutional and sophisticated investors.
A new aspirant South African mining champion on Monday announced its intention to purchase Anglo American’s Eskom-tied domestic thermal coal operations in South Africa, which would position the majority black-owned start-up as the potential second-largest provider of coal to the State electricity utilty.
Mining giant BHP Billiton on Monday said any potential benefits of implementing a proposal tabled by minority shareholders Elliott Associates and Elliott International would be significantly overshadowed by the costs and associated risks of the suggested changes.
ASX-listed Tiger Resources has secured an extension for the first repayments on its $162.5-million senior financing facility. Taurus Mining Finance Fund, Resource Capital Fund and the International Finance Corporation have agreed to extend the date for payment of the first scheduled repayment instalment of $1.625-million and the second scheduled repayment instalment of $812 500 until May 1.
Unlike in previous years, producer Coal India Limited (CIL) missing its production target for 2016/17 has barely created a flutter in related industries.