MINING FINANCE / INVESTMENT

NMDC hastens investment of $943 million

Friday , 03 Feb 2012
Cash rich Indian government company NMDC with $3.6b reserves, has clocked a 22% rise in its quarterly net profit mostly on the back of higher sales and is to diversify into five new areas of business.

Panorama proposes takeover of Canadian PGM explorer Magma

Friday , 03 Feb 2012
The successful W. Australian nickel miner is offering almost a 87% premium for Perth-based PGM explorer Magma in an all-share offer.

Fiery CEO personalities may clash in Glencore/Xstrata talks

Friday , 03 Feb 2012
According to analysts, one of the key sticking points in a merger of equals will be who gets to run the enlarged firm with both firm's highly competitive CEOs likely to be up to the challenge.

CME Group launches clearing service for London gold forwards

Friday , 03 Feb 2012
The company's European clearing house has launched clearing services for the first physically settled product for over the counter London gold forwards.

2012 drilling demand: No let up in sight from juniors, seniors

Friday , 03 Feb 2012
A couple international drilling companies give their outlook on the 2012 drill season to Mineweb, suggesting demand is high from seniors and holding steady for juniors.

Anglo American CEO recovering after horse-riding accident

Thursday , 02 Feb 2012
She has been advised by her doctor not to travel internationally for about two months.

Glencore's Xstrata offer more a relief than a surprise

Thursday , 02 Feb 2012
Most market commentators polled by Mineweb on Thursday seemed largely unsurprised by the announcement of a possible merger between the two firms but, there may be some fun and games yet.

NovaGold widens pot, to raise up to $382 million

Thursday , 02 Feb 2012
NovaGold goes for $333 million dollars by issuing what amounts to about a seventh the number of its current outstanding shares.

Australia's iron lady on road to be world's wealthiest woman - Forbes

Thursday , 02 Feb 2012
According to Forbes magazine, Gina Rinehart, who signed a deal last month that will see POSCO take a 15% stake in her Roy Hill iron ore mine, could soon become the world's wealthiest woman.

Xstrata confirms Glencore merger of equals talks

Thursday , 02 Feb 2012
In a statement issued this morning, and subsequently confirmed by Glencore, Xstrata said the commodities trader has made an approach about an all-share offer for "a merger of equals."

Rio Tinto accepts CGNPC for Kalahari

Wednesday , 01 Feb 2012
Global miner Rio Tinto has accepted CGNPC's offer for its shares in Kalahari Minerals, the major shareholder in the giant Husab uranium project in Namibia.

African Minerals plans bond issue to fund Tonkolili

Tuesday , 31 Jan 2012
The iron ore miner, which said last week it was in advanced talks over funding for the expansion of its Tonkolili mine in Sierra Leone, says it will issue up to $350 million of convertible bonds to complete the task.

Commodity investments at a crossroad

Monday , 30 Jan 2012
John Kemp explores the current position of commodity markets, and whether or not the growth in banks' commodity desks and specialist commodity can be sustained if returns do not start to improve.

Is the end nigh for an open cry LME

Monday , 30 Jan 2012
With the exchange considering purchase offers from a number of bidders, some are worried that a sale might see the end of Europe's last "open outcry" exchange

KGHM in talks with banks on possible project funding

Friday , 27 Jan 2012
CEO Herbert Wirth says the company has made preliminary queries with several banks about a possible loan in Polish zlotys that would help it fund some of its investments.

Rio Tinto may push for ownership change at Oyu Tolgoi - Ivanhoe

Friday , 27 Jan 2012
According to a U.S. filing by the Canadian miner, Rio Tinto may push for a change in ownership at the massive Mongolian copper and gold mine and also plans to replace some Ivanhoe senior managers

Dahlman Rose lowers copper, iron ore, moly price forecasts

Friday , 27 Jan 2012
Investment banker Dahlman Rose has picked Freeport-McMoRan, Rio Tinto and Cliffs Natural Resources as its top ideas for 2012.

Output falls at most Anglo American ops in 2011 although big improvement Q4

Thursday , 26 Jan 2012
Better Q4 figures for Anglo American, one of the world's top diversified miners, helped bring the company back on track after some disappointing setbacks during the year.

New SEC mining health, safety reporting requirements launch Friday

Thursday , 26 Jan 2012
Ironically, as broad safety disclosures for mining under the Dodd-Frank Act goes into effect Friday, Congress did not mandate non-mining employers to meet the same tough reporting requirements under OSHA.

Silver Lake Resources, Phillips River to merge

Wednesday , 25 Jan 2012
In a deal supported by both companies, the growing gold miner to merge with another Western Australian company

LME to hold meeting over fee hike backlash in 2 weeks

Wednesday , 25 Jan 2012
The London Metal Exchange will hold a meeting on February 7 to discuss a recent board decision to raise trading fees, a move that sparked a backlash from some leading members.

Iodine miner Atacama pulls in C$60m - eyes gold acquisitions

Wednesday , 25 Jan 2012
Atacama looks to get more exploration properties, focusing on gold, as it raises a hefty dose of cash through a C$60 million financing.

Lynas Corp secures $225mn in bond sale

Tuesday , 24 Jan 2012
Lynas Corp has agreed to sell $225 million in convertible bonds to a new investor, giving the rare earths miner a cheaper source of funding to finish building its flagship plant in Malaysia.

Marubeni could hit 200 billion yen in net profit - Nikkei

Tuesday , 24 Jan 2012
Citing the company's President Teruo Asada, the Nikkei business daily reported Tuesday Marubeni Corp could hit its target of 200 billion yen in group net profit for the year ending March 2013.

Commodity inflows at start of uptrend

Friday , 20 Jan 2012
Momentum across the commodities spectrum appears to be bullish for now, says Standard Chartered

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