Infomine

By Cecilia Jamasmie Australia’s wealthiest woman and mining tycoon, Gina Rinehart, became Monday the third party interested in buying Atlas Iron this year after offering A$390 million ($290 million) in cash for the junior miner. The bid, made by Redstone Corporation Pty Ltd, a wholly‐owned subsidiary of Rinehart’s Hancock Prospecting, comes only a week after […]

By Cecilia Jamasmie World’s second largest miner Rio Tinto (ASX, LON, NYSE:RIO) said Monday it will begin developing its Koodaideri iron ore mine in Western Australia’s Pilbara region next year, highlighting parallel plans to de-bottleneck rail capacity, which should increase it to 360 million tonnes per annum (mtpa) in 2019. The miner also said it

By Cecilia Jamasmie Chile’s antitrust regulator FNE has launched a probe into Tianqi’s recent acquisition of a stake in Chemical and Mining Society (SQM), the world’s second largest lithium producer, to determine the possible effects on the market. Chinese miner Tianqi Lithium, the Asian nation’s largest producer of the white metal, purchase last month a

By Cecilia Jamasmie Shares in Australia’s Hawkstone Mining (ASX:HWK) dropped almost 23% on Friday after the company said it wouldn’t proceed with the acquisition of USA Lithium. The botched deal would have added two lithium projects – the Big Sandy lithium clay project in Arizona and the Lordsburg lithium brine project in New Mexico –

By Cecilia Jamasmie Miner and commodities trader Glencore (LON:GLEN) has settled a potentially damaging legal row with former business partner in Democratic Republic of Congo Dan Gertler by agreeing to pay royalties he is owed from copper and cobalt mines. The Swiss firm will make the payments to the Israeli billionaire in euros so that

By Frik Els The import price of 62% Fe content ore at the Chinese port of Qingdao advanced again on Thursday trading at $68.49 per dry metric tonne according to data supplied by Metal Bulletin. The price of the steelmaking raw material is now up nearly 30% from lows hit this time last year. Demand

By Cecilia Jamasmie Anglo American (LON:AAL) has agreed to a $600-million transaction with Mitsubishi Corp. that will increase the Japanese company’s stake in the vast Quellaveco copper project in Peru to 40%. Chief executive Mark Cutifani, who has long expressed his preference for joint ventures or partnerships to develop big projects and so spread the

By Cecilia Jamasmie Shares in Petra Diamonds (LON:PDL) climbed around 5% on Wednesday after the South African miner said shareholders had approved a rights issue to raise about $170 million to help cut its debt burden. The company has more than $600 million of debt it accumulated by building a new plant and digging deeper

By Cecilia Jamasmie Chrome producer Tharisa (LON:THS)grew its exposure to Zimbabwe on Wednesday by acquiring a 26.8% stake in Karo Mining Holdings for $4.5 million, gaining access to 23,903 hectares of land in the country Great Dyke, which has a potential for 96 million ounces of platinum and palladium. Land is said to contain the

By Felicia Chan China currently makes up half of the global EV market, according to IEA’s Global EV Outlook 2018. China’s efforts in pushing EV sales paid off as they surpassed the world’s second largest EV market, the US, by more than double in 2017. China sold 579,000 EVs seeing an increase of 72% from