Alcoa to buy Australian partner Alumina in $2.2bn all-stock deal
Alcoa will buy Alumina in an all-stock deal that values the Australian firm at $2.2 billion, and makes the US company one of the world’s largest producers of alumina and bauxite.
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Adani’s $1.2bn copper smelter to import concentrates from Peru, Chile
Indian billionaire Gautam Adani’s group will source copper concentrates from Peru, Chile and Australia to kick-start its $1.2 billion copper smelter, the world’s biggest single-location plant of its type, a top company official said.
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Codelco places $2bn in bonds as miner aims to boost copper output
Chile’s Codelco, the world’s largest copper producer, placed $2 billion in unsecured dollar-denominated debt maturing in 12 and 29 years on Tuesday, the miner said in a statement confirming an earlier report from capital markets publication IFR.
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Liontown extends due diligence for $4.2bn Albemarle buyout
Mining News Pro - Australia’s Liontown Resources on Thursday said it would extend an exclusive due diligence period by a week for its proposed A$6.6 billion ($4.23 billion) buyout by US-based Albemarle, even as an Australian billionaire muscles in.
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Minsur to invest at least $2bn as it expands copper, tin operations
Mining News Pro - Peruvian miner Minsur has announced an investment of at least $2 billion in five years as it expands its copper and tin operations, an executive told Reuters on Thursday.
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Glencore sweetens offer for Teck with $8.2bn cash incentive
Mining News Pro - Glencore is stepping up efforts to take over Teck Resources by adding on Tuesday a $8.2-billion cash component to its original $23 billion bid for Canada’s largest diversified miner.
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Antamina mine life extension cost hiked to $2bn
Mining News Pro - Peru’s largest copper mine, Antamina, will spend $2 billion to extend the useful life of the deposit through 2036, up sharply from $1.6 billion previously planned, the company’s chief executive officer told Reuters on Wednesday.
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Rio Tinto, China Baowu to develop Australian iron ore project for $2bn
Mining News Pro - Rio Tinto Ltd said on Wednesday it would team up with its biggest customer China Baowu Steel Group to develop an iron ore project in Western Australia for $2 billion as it looks to prop up its production from the Pilbara region.
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Newmont expects to pull trigger on $2bn Peru gold project mid-year
Mining News Pro - Newmont (NYSE: NEM) (TSX: NGT), the world’s no. 1 gold miner, expects to move ahead with a planned $2 billion expansion of its Yanacocha mine, in northern Peru’s Cajamarca region, to extend the asset’s life beyond 2040.
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Argentina expects $4.2bn investment in its lithium sector
Mining News Pro - Argentina expects to receive a $4.2 billion combined investment in its growing lithium market over the next five years, which would help the country double production in 2023 to reach 175,000 tonnes of the battery metal in 2025.
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Newmont expects to pull trigger on $2bn Peru gold project mid-year
Mining News Pro - Newmont, the world’s no. 1 gold miner, expects to move ahead with a planned $2 billion expansion of its Yanacocha mine, in northern Peru’s Cajamarca region, to extend the asset’s life beyond 2040.
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Australian mining billionaire to invest $2.2bn in renewable energy project
Mining News Pro - Australian iron ore magnate Andrew Forrest, who’s been betting big on a global green revolution, said on Sunday he was investing A$3 billion ($2.2 billion) in renewable energy in central Queensland.
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Discovery Silver PEA for Cordero demonstrates potential Tier 1 asset with $1.2bn NPV
Mining News Pro - Discovery Silver announced on Tuesday results of a Preliminary Economic Assessment (PEA) on its 100%-owned Cordero project in Chihuahua, Mexico.
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Govt establishes A$2bn critical minerals loan facility
Mining News Pro - The federal government will establish a A$2-billion loan facility for Australian critical minerals projects.
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South Africa’s green energy push hinges on R402bn debt fix
Mining News Pro - The head of South Africa’s State power utility needs to substantially reduce its R402-billion of debt to realise his vision of transforming the coal-addicted behemoth into a leading green-energy producer and create as many as 300 000 jobs in the process.
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Iron ore price correction delayed as global steel demand tops 2bn tonnes for first time ever
Mining News Pro - Iron ore prices climbed again on Friday to nearly $220 a tonne and back to within shouting distance of all time highs hit last month.
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K+S sells Americas salt business for $3.2bn
Mining News Pro - German minerals company K+S Aktiengesellschaft has agreed to sell its Americas salt business to industrial holding company Stone Canyon Industries, Mark Demetree and affiliates for $3.2-billion.
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Sasol sells 50% of Lake Charles base chemicals unit to LyondellBasell for $2bn
Mining News Pro - Debt-laden chemicals and energy group Sasol has announced a $2-billion joint venture (JV) agreement with LyondellBasell for its base chemicals business in Lake Charles, Louisiana, in the US.
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Zambian royalty spat halts $2bn of copper mine investment
Mining News Pro - Copper miners in Zambia have halted $2-billion of planned investments because a royalty tax introduced last year makes the projects unviable, according to an industry lobby group.
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Fitch upgrades Brazil`s miner Vale, estimates $2bn in dividends
Mining News Pro - Fitch has upgraded the credit rating of Brazilian miner Vale, saying the iron ore producer has lowered its chances of default after improving dam safety since a deadly disaster in 2019, the rating agency said in a note on Tuesday.
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Sasol warns of dramatic earnings collapse as it confirms R112bn impairment
Mining News Pro - Chemicals and energy group Sasol warned of a dramatic collapse in its 2020 financial performance on Tuesday, confirming that losses for the period would represent a deterioration of more than 100% when compared with results reported for the 2019 financial year.
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“Evidence” against Vale in Simandou case may hinder $2bn award
Mining News Pro - Billionaire Beny Steinmetz, the founder and owner of a company embroiled in a long-dragged dispute with Vale over lost rights to the massive Simandou iron ore project in Guinea, claims to have fresh evidence that will help him reverse a $2bn arbitration award to the Brazilian miner.
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Vale to spend $2bn to cut carbon emissions 33% by 2030
Mining News Pro - Brazilian miner Vale SA plans to spend at least $2 billion to cut both its direct and indirect carbon emissions by 33% by 2030, Chief Executive Eduardo Bartolomeo told Reuters on Tuesday.
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AngloGold cash flow soars 231%, liquidity boosted to $2bn
Mining News Pro - Gold mining company AngloGold Ashanti more than trebled first-quarter cash flow from operating activities, bolstered its available liquidity to more than $2-billion and improved leverage as key mines delivered solid performances.
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South Africa entitled to $4.2bn in IMF support to tackle Covid-19
Mining News Pro - Finance Minister Tito Mboweni confirmed on Friday that a revised Budget Bill would be tabled in Parliament shortly to address changes to the fiscal framework that had arisen as a result of government’s response to the Covid-19 pandemic, including the R500-billion economic and social relief package unveiled by President Cyril Ramaphosa on April 21.
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