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...

/ July 3, 2018

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...

/ July 2, 2018

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...

/ July 2, 2018

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...

/ July 2, 2018

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...

/ July 1, 2018

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...

/ July 1, 2018

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...

/ July 1, 2018

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...

/ July 1, 2018