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Northern Iron rejects A$477m offer
The board of Northern Iron Ltd has rejected an offer to buy the company from India’s diversified Aditya Birla Group (ABG), which would have paid around A$477 million (US$477 million) for the Norway-focused iron-ore producer. Full story...
Lonmin profits and production fall
Platinum group metals (PGM) producer Lonmin plc said its earnings and production fell over the half year to March 2012, owing to weaker PGM prices and closures at its mines in South Africa. Full story...
Glencore foresees US$500 million in Xstrata synergies
Glencore International plc said it expected a proposed US$90 billion merger with Xstrata plc would be finalised by the September quarter this year, and would generate pre-tax synergies of ‘at least’ US$500 million next year. Full story...
BHP appoints energy coal head
BHP Billiton has appointed Ian Maxwell to head up the company’s thermal-coal division, after former head Jimmy Wilson transferred to lead BHP’s iron-ore division in March. Full story...
Brazil court cancels Vale bond relief ruling
Brazil’s Superior Court of Justice (SCJ) has overturned a ruling which relieved Vale SA of the requirement to post bonds in an ongoing tax dispute. Full story...Rio Tinto appoints Ivanhoe management
Kay Priestly, former chief financial officer of Rio Tinto’s copper division, has been appointed as chief executive of the company’s majority-owned Ivanhoe Mines, after the two companies agreed a funding deal worth US$3.3 billion for Ivanhoe’s Oyu Tolgoi copper project in Mongolia. Full story...Copper falls, coal rises in Xstrata quarterly production
Xstrata plc said its copper production fell around 18% year-on-year over the January-April quarter, while coal production rose 9% and zinc output remained roughly constant. Full story...Polyus announces US$636m share sale and premium listing application
Russia’s largest gold producer Polyus Gold International Ltd said it would sell 7.5% of the company’s shares and would apply for a premium listing on the London Stock Exchange, bringing some clarity to recent speculation about the company’s plans for its stock. Full story...Metalloinvest sells rail operator for US$540m
Iron-ore producer Metalloinvest has agreed to sell its freight-rail arm, LLC Metalloinvesttrans (MIT), to Russian freight operator Globaltrans Investment plc for US$540 million. Full story...
Aspermont and Beacon Events expand their global events partnership
Aspermont today announced it intends to further expand its global events offering with its partner of five years, Beacon Events. The objectives will be to extend the successful current range of brands. Full story...
Huaibei plans US$960m IPO
Eastern China coal producer Huaibei Mining Co has filed a preliminary prospectus with China’s Security Regulatory Commission, for an initial public offering (IPO) to raise Yu6.05 billion (US$960.5 million) in advance of a listing on the Shanghai stock exchange. Full story...
CST sells Mina Justa for US$505m
Hong Kong-based copper producer CST Mining Group Ltd said it would sell a 70% stake in the Mina Justa copper project to Peru-based base-metals firm Minsur SA, for a total US$505 million. Full story...
Anglo sells Scaw South Africa for US$440m, completes Scaw Metals disposal
Anglo American plc said it sold Scaw South Africa (Pty) Ltd, an integrated steelmaker, for R3.4 billion (US$440 million), completing its US$1.4 billion divestment of Scaw Metals Group. Full story...Tantalus and Rhodia sign off-take letter
Rare-earth elements (REE) product manufacturer Rhodia said it had signed a letter of intent with Madagascar-focused developer Tantalus Rare Earths AG, aimed at providing processing expertise and an exclusive off-take facility for up to 15,000t/y. Full story...Anglo American to review platinum operations
Anglo American plc's chairman Sir John Parker said the company plans to carry out a “top-to-bottom review” of its platinum operations to ensure they will deliver value in the long term. Full story...Canada mining bodies welcome resource development plan
The Mining Association of Canada (MAC) and the Prospectors and Developers Association of Canada (PDAC) have welcomed new government proposals to streamline national mineral development regulations under a new economic action plan. Full story...READ THE LATEST PRINT EDITION:
MJ 11/05/12
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Aspermont and Beacon Events expand their global events partnership
The parent company of Mining Journal, Aspermont Ltd, recently announced it intends to further expand its global events offering with its partner of five years, Beacon Events.
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