Month: July 2018

Indonesia close to acquiring Freeport's Grasberg copper mine
* Majority stake purchase seen valued at $3.5-$4.0 bln -minister * Govt drafting documentation on taxation, operational control * Deal might be completed in July – official By Cindy Silviana JAKARTA, June 30 (Reuters) – Indonesia’s state-owned mining holding company...

Indonesia's Inalum close to acquiring Freeport's Grasberg copper mine
Indonesia’s state-owned mining holding company PT Inalum is close to finalising a multi-billion-dollar deal to acquire a majority stake in the giant Grasberg copper mine, government officials said on Saturday. Situated in Indonesia’s eastern-most province of Papua, Grasberg, the world’s...

Richest man in Mexico partners with Goldcorp
Carlos Slim, who is known as the richest man in Mexico, teamed up with Canada’s Goldcorp (TSX:G) (NYSE:GG) by sealing a deal between his Minera Frisco and Goldcorp’s subsidiary Minera Peñasquito. The deal involves exploring and evaluating possible mining operations...

Noront Resources seeks exploration partner
Toronto-based Noront Resources (TSXV:NOT) has started discussions with gold producers in Canada and elsewhere with the idea of striking a joint partnership to explore for gold. Interviewed by the Financial Post, Noront CEO Alan Coutts said that the move is...

Oil and mining sector continue to grow in Peru
Peru’s National Institute of Statistics and Informatics released a preliminary report stating that in May 2018 and for the third month in a row, the mining and oil sectors continued to grow. According to Reuters, both sectors showed a 1.86...

Thyssenkrupp shareholder Cevian calls for further restructuring after steel JV
Major Thyssenkrupp shareholder Cevian called for further restructuring of the German conglomerate on Sunday, a day after it sealed a steel joint venture with India’s Tata Steel. Activist investor Cevian is the second largest shareholder in Thyssenkrupp and, like fellow...

Sienna looks for cobalt in Sweden
Sienna Resources (TSXV: SIE) announced that it has started an extended sampling and geophysical program on the Slättberg nickel-copper cobalt project, located 25 kilometres northwest of Falun, Sweden. In a press release, the Vancouver-based company explained that the historic mining...

Tenaris laying off Canada workers as Trump's steel tariffs bite
Luxembourg-based steel pipe maker Tenaris SA is temporarily laying off workers and adjusting production at a Canadian plant because of uncertainty in the steel market following tariffs imposed by the United States, a company official said on Saturday. Teneris will...