Diversified miner Anglo American has become a member of ResponsibleSteel, a nonprofit organisation and the steel industry's first global, multi-stakeholder standard and certification programme. ResponsibleSteel covers the entire steel supply chain, from raw material supply through steel processing to use, reuse and recycling.
The share price of Ariana Resources rose sharply in London on Monday, after the company announced that it had entered into a nonbinding memorandum of understanding (MoU) with a major Turkish construction and engineering company.
Ariana’s share price spiked 42% to a high of 2.98p each by 13:00, before trading at 2.69p a share in the afternoon.
The world’s largest miner, BHP, is investing a further $22-million in London- and Toronto-listed SolGold, a move which the Ecuador-focused junior sees as an endorsement of its strategy to become a copper/gold major.
BHP acquired a further 77-million shares at 22.15p each - a premium of about 13% - in the company.
Canadian gold miner Kirkland Lake Gold on Monday announced that it would buy smaller rival Detour Gold in a $4.9-billion all-share transaction, solidifying its position as a senior gold producer with targeted 2019 gold production of about 1.5-million ounces and free cash flow of almost $700-million.
Gold miner Saracen Mineral Holdings’ buy of a 50% interest in the Kalgoorlie Super Pit has become unconditional, after the state government approved the transaction.
Saracen last week struck an agreement with North American gold miner Barrick Gold to acquire its share in the Super Pit mine for $750-million.
BHP Group, the world’s biggest miner, plans to increase its stake in SolGold, the developer of projects in copper hot spot Ecuador, according to people familiar with the proposal.
Gold miner Silver Lake Resources is expected to shortly start with the compulsory acquisition of the remaining shares in takeover target EganStreet Resources after taking an 84.11% interest in the company.
India’s Coal Ministry is likely to adopt revenue sharing contracts for next month’s commercial mining coal block auction.
The Ministry is expected to announce auction rules soon incorporating revenue sharing model contracts for successful bidders, with domestic miners and global resource majors expected to participate in the competitive bidding.
Discussions are faltering about how to shut down Germany’s lignite coal industry as company executives and government ministers struggle to agree over the politically charged issue of how to compensate industry for plant shutdowns.
In the end, the unraveling economics of coal proved too much for even a giant among power generators to handle.