Codelco and Anglo American, partners and neighbors in the Chilean Andes, are exploring closer coordination to maximize the potential of their adjacent mining operations. The Chilean state company and the Anglo-South African mining firm are both shareholders in Anglo American Sur, which oversees the Los Bronces and El Soldado mines, along with the Chagres smelter....
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Seibu Giken has announced its decision to acquire a 5% stake in Kumyoung, a South Korean company based in Yuseong-gu, Daejeon. The acquisition aims to strengthen the partnership between the two companies and expand Seibu Giken’s reach in the global lithium-ion battery market. Seibu Giken, known for its equipment essential to lithium-ion battery production for...
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Société du Terril de Lubumbashi (STL), a wholly-owned subsidiary of Gécamines, has entered into an exclusive long-term partnership with Umicore to valorize germanium from the “Big Hill” tailings site in Lubumbashi, Democratic Republic of Congo (DRC). Under this agreement, Umicore will optimize STL’s new processing unit on-site, leveraging its refining and recycling expertise. In return,...
READ MOREStrategic Developments and Global Shifts in the Metals Industry Aurubis’ Expansion and Sustainable Initiatives in Bulgaria Launch of Solar Power Plant Construction Aurubis, Germany’s leading copper producer and the largest in Europe, has initiated the construction of a solar power plant aimed at providing sustainable energy to its Pirdop facility in Bulgaria. This solar plant...
READ MOREEQVA ASA’s subsidiary BKS Industri (BKS) has secured a new contract valued at approximately NOK 53 million (USD 5 million) for Norsk Hydro. The contract involves upgrading 120 furnaces at Norsk Hydro’s aluminum plant in Husnes, Sunnhordland, with completion expected in Q3 2025. This contract represents phase 2 of the furnace upgrade project at Husnes....
READ MOREAlcoa has announced that the bidding process for the sale of its San Cibrao industrial complex, including both the primary aluminum plant and the alumina plant, will conclude in the second quarter of 2024. Despite improved energy and aluminum prices, Alcoa’s president, Bill Oplinger, has emphasized the ongoing challenges in making the complex viable under...
READ MOREBHP announced on Monday that Anglo American has rejected a revised takeover offer from the Australian miner, valuing the company at £34 billion. The second offer, made on May 7, followed an initial £31 billion proposal in April and was rejected on May 13. The second offer, structured similarly to the initial proposal, aimed to...
READ MOREVM Building Solutions, a supplier of high-quality products and services for the building envelope, has announced it is now the exclusive distributor of Nordic Copper in 22 European countries, including the Benelux region. This addition complements VM Building Solutions’ existing offerings of EPDM and VMZINC products. Nordic Copper is a product line from Aurubis Finland...
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Vale has successfully concluded a significant transaction with Manara Minerals, a joint venture between the Saudi Arabian Mining Company (Ma’aden) and the Saudi Arabian Public Investment Fund, selling a 10% stake in Vale Base Metals Limited (“VBM”) for approximately US$2.5 billion. This strategic sale, now approved by relevant regulatory authorities, underscores Vale’s ongoing effort to...
READ MOREGlencore is reportedly considering a potential approach for Anglo American, a move that could ignite a bidding war for the British mining giant. According to Reuters, Glencore has not yet approached Anglo, and current discussions within Glencore are internal and at a preliminary stage, with no certainty of an eventual approach. A Glencore spokesperson declined...
READ MORESwiss commodities giant Glencore is deepening its involvement with Canadian platinum miner Stillwater Critical Minerals by signing a CAD 2.1 million (approximately $1.5 million) agreement to purchase shares in the company. The deal, announced on Thursday, involves the purchase of 15 million units, each consisting of one Stillwater share and a half-warrant. Each full warrant...
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During Rio Tinto’s Annual General Meeting (AGM), Chairman Dominic Barton remained tight-lipped about whether the mining conglomerate is eyeing a bid for Anglo American. This comes in the wake of Anglo American’s recent rejection of a €36.3 billion takeover proposal from BHP, citing the offer as insufficient. Barton’s response to a shareholder inquiry was clear:...
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In its annual report released Friday, Russian aluminum producer Rusal disclosed that commodities group Glencore purchased aluminum worth $1.06 billion from them in 2023, as part of a longstanding contractual agreement. This contract is set to expire in 2024, with a potential extension to 2025 under consideration. Glencore had previously stated in 2022 that while...
READ MORESumitomo Metal Mining and Mitsubishi Corporation have finalized an agreement with Ardea Resources to develop the Kalgoorlie Nickel Project – Goongarrie Hub in Western Australia. Together, they will form a joint venture to finance the definitive feasibility study for the project with a budget of 98.5 million AUD. This joint venture will ultimately hold a...
READ MOREAnglo American’s management team has expressed reservations about a $39 billion takeover bid from BHP Group, deeming the offer unattractive, according to sources familiar with the matter. The bid, which proposed a purchase price of 25.08 pounds ($31.39) per share—a 31% premium over Wednesday’s market close—has been criticized by some investors and analysts as opportunistic....
READ MOREAnglo American, a global mining giant, is currently evaluating an unsolicited takeover proposal from BHP Group, the world’s largest mining company. This development follows a period of vulnerability for Anglo, with its market capitalization hovering around $52 billion and its share price having halved over the past two years due to various operational challenges. The...
READ MOREBHP, the Australian mining giant, recently made a substantial takeover offer for British mining company Anglo American, aiming to become the world’s leading copper producer. The offer, valued at £31.1 billion (approximately 36 billion euros), was quickly rejected by Anglo American as too low. This proposed merger highlights the intense competition and strategic interest in...
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Elliott Investment Management has reportedly acquired a substantial stake of approximately $1 billion in Anglo American, as per Bloomberg News. This strategic move comes at a time when Anglo American has just rejected a 31.1 billion pound ($39 billion) takeover bid from rival miner BHP Group. Anglo American, a major player in the mining industry,...
READ MOREAnglo American on Friday turned down a £31 billion bid from mining company BHP, describing the offer as undervalued and “opportunistic.” BHP’s bid aims to form the world’s largest copper producer, a strategic move as the demand for commodities essential to the electric vehicle and battery market escalates. Copper accounts for 30% of Anglo’s production....
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BHP, the world’s largest mining company, is currently under the spotlight as it considers making an official bid for Anglo American, a major global player in the mining sector. The London-listed Anglo American has disclosed that it is reviewing a “highly conditional” all-stock offer from BHP. This proposal includes a strategic restructure involving the de-merger...
READ MOREMidland Exploration has amended its existing option agreement with Rio Tinto Exploration Canada (RTEC), effective April 22, 2024, by incorporating the Wookie project into the agreement originally established in June 2023. The Wookie project, situated in the lithium-rich Eeyou Istchee James Bay area of Quebec, adds significant potential to the collaboration, expanding the total covered...
READ MOREAbu Dhabi’s International Holding Company (IHC), through its mining unit International Resources Holding (IRH), is making significant strides to establish a copper mining empire in Africa. IHC has reportedly offered over $1 billion for a 51% stake in Konkola Copper Mines, a key asset of Vedanta Resources in Zambia. This follows IRH’s acquisition of a...
READ MOREVizsla Copper and Universal Copper announced today the completion of their merger under the Business Corporations Act of British Columbia. This arrangement, initially disclosed on February 14, 2024, allows Vizsla Copper to acquire all issued and outstanding shares of Universal Copper. Shareholders of Universal Copper received 0.23 Vizsla Copper shares for each share they held....
READ MOREBaker McKenzie, a prominent global law firm, has successfully advised ZCCM Investments Holdings on a pivotal transaction with International Resources Holding RSC (IRH) from Abu Dhabi. Through its subsidiary, Delta Mining, IRH acquired a 51% stake in Mopani Copper Mines, committing to a significant investment package totaling USD 1.1 billion. This includes USD 620 million...
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