Archives: Mining mergers and acquisitions

Rolls-Royce has made an investment in Berlin-based start-up company Qinous GmbH as it looks to increase its exposure to the rapidly developing energy storage sector and bolster its microgrid offering. Marcus Wassenberg, CFO and Labour Director at Rolls-Royce Power Systems, said: “As a strategic investor, the aim is to set up a partnership with Qinous[…]

Americas Silver Corp and Pershing Gold Corp have entered into a definitive agreement to complete a business combination and create a low-cost, precious metal growth company in the Americas. This embraces a diversified portfolio of precious metal assets in the Americas and combines two producing polymetallic mines in Mexico and Idaho that are expected to[…]

Rio Tinto has signed a binding agreement to sell its entire interest in the Grasberg mine in Indonesia to PT Indonesia Asahan Aluminium (Persero) (Inalum), Indonesia’s state mining company, for $3.5 billion. Separately, Inalum has signed a binding agreement with Freeport McMoRan Inc. (FCX) in relation to the future ownership and operation of the Grasberg[…]

Global engineering business Howden has acquired both Advanced Combustion Inc (ACI) and Advanced Fan Systems as it looks to expand its mine ventilation offering. ACI, located in Toronto, is the leading designer, manufacturer and installer of mine air heating equipment for the mining industry, according to Howden. Advanced Fan Systems, meanwhile, manufactures a line of[…]

Peabody has signed a definitive agreement to purchase the Shoal Creek metallurgical coal mine from private coal producer Drummond Co for $400 million.  Shoal Creek is located on the Black Warrior River in Central Alabama and serves Asian and European steel mills with high-vol A coking coal.  The transaction involves the purchase of the mine,[…]

Barrick Gold Corporation today announced that it has reached agreement on the terms of a recommended share-for-share merger of Barrick and Randgold Resources. “The merger will create an industry-leading gold company with the greatest concentration of Tier One Gold Assets in the industry, led by a proven management team of owners. Superior operating metrics, including[…]

Velocity Minerals’ Balkan gold project envisions staged open pit mining of satellite deposits and transportation to a central CIL processing plant at Khardzhali.  In addition, potential development and expansion of the operating Chala underground mine at the project may increase throughput to the CIL plant. In February 2018 Velocity formed an Exploration and Mining Alliance,[…]

The merger of SRK Canada and Labrecque Technologies Inc (LTI) is set to broaden the scopes of the two companies’ service offerings within the mining and minerals industries. The two have worked together on many underground mining projects in North America, the UK, Russia and the Philippines, most recently pairing up for simulation work on[…]

Ausdrill has been given strong investor backing for its proposed takeover of leading underground hard-rock mining contractor Barminco, with its retail shareholders providing it with A$77 million ($55 million) of cash as part of a planned A$250 million equity raise. This amount, on top of a similar institutional investor share offer that raised A$175 million,[…]

Nevsun Resources and Zijin Mining Group have announced that the parties have entered into a definitive agreement pursuant to which Zijin will make a take-over bid to acquire all of the issued and outstanding shares of Nevsun for C$6.00 per share in cash. The offer is valued at C$1.86 billion (US$1.41 billion). The cash consideration[…]