jueves, 21 de junio de 2018

Mineral Resources drops out of race for Atlas Iron

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Australia News Digest
Friday 22 June 2018
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The company's withdrawal means all eyes are now on Fortescue, which still has a 19.9%-stake in Atlas and has not yet disclosed whether it plans to launch a rival bid or sell its holding into Hancock's offer.

The world's top miner is said to have hired Goldman Sachs to assist with the sale of the Western Australia-based nickel operation.

Alicanto Minerals will retain 100% of Arakaka gold project.

The Competition Commission of India green-lighted the $4.1 billion deal reached in May between the Canadian potash giant and China's Tianqi Lithium.

Sale is part of chief executive Andrew Mackenzie's bid to focus on large assets in commodities such as iron ore, copper and oil.

The country's antitrust regulator is investigating the effects on the market of Chinese miner Tianqi Lithium acquisition of a 24% stake in SQM, the world's second largest lithium producer,

First production from the Pilbara-based project, which it says it's one of the world's most technologically advanced, is expected in 2021.

Lucapa has a 35-year license for Lulo, which early last year bore a 404.2-carat white diamond, considered the largest diamond ever recovered in Angola and the biggest diamond ever found by an Australian company.

Hermosa Project.

The offer from Australian billionaire Gina Rinehart's Hancock Prospecting values Atlas shares at 17% more than price reached at Friday close.

A week choc-a-bloc with billion dollar copper, iron ore and cobalt deals ends with huge drop in prices and sell-off in stocks of mining's biggest names.

Deal would have added two lithium projects – the Big Sandy lithium clay project in Arizona and the Lordsburg lithium brine project in New Mexico – to Hawkstone's portfolio.

BHP building $3.4B mine amid surging lump premiums, high-grade fines prices up 30% in a year, is latest indicator iron ore is once again a mining cash cow.

The battery cell maker is working on the first section of the factory, in Skellefteå in the north of Sweden, which will be completed in 2020 and produce eight gigawatt cell capacity per year.

The companies are committed to explore for mineral deposits first in the Asian country and then the rest of the world .

The takeover offer, which expires next week, offers great exploration potential because Avanco owns a vast landholding in the copper and iron ore-rich Carajás region, second only to giant Vale.

The country's car industry currently employs about 840,000 people, with 210,000 of them working on powertrain production, the sub-sector set to be the worst hit.

The CEO of Fortescue Metals Group said that the company is working towards finding other commodities to mine.

As soon as the sale was completed, Rio received $150 million in cash and is set to get an unconditional cash payment of $50 million due in 12 months.

The number of electric cars, including battery-electric, plug-in hybrid electric and fuel cell electric passenger light-duty vehicles, increased by 57% in 2017 from the previous year.

While the global mining industry is quickly becoming more digitally mature, that transformation continues to focus on productivity and profitability, rather than on much needed innovation, a new study shows.

The company had warned last week that operations at the open pit mine would be affected by the strike, as fuel and consumables failed to be delivered to site, while road blocks on highways prevented sending output to port.

Other than cash sum, the US miner is receiving 60 million Maverix common shares, representing a 28% stake in the Canadian company and warrants for an additional 10 million common shares.

The Eliwana mine will help the company lift its iron ore grades and so satisfy the new demands of its biggest customer, China, which is increasingly asking for higher quality ore for steel mills to help cut smog.

China is home to the majority of the world's lithium processing facilities and sucks up most output of top producer Australia.

ERAMET said it would pay A$322 million for the shares it did not already own in the company.

The contract with the two units of the world's fourth-largest iron ore miner will last until December 2023

There may be a slight problem with the prevailing theme for the iron ore market this year, namely that China is increasingly interested in using higher-grade ore as part of efforts to boost output and lower per unit pollution.

Major miner Rio Tinto named Jacob Stausholm to replace outgoing financial boss Chris Lynch when he retires in September.

Iron ore shipments from the world's biggest export terminal rose to 45 million tonnes in May from 42.6 million tonnes in the previous month.

A national coordinated approach to climate and energy policy is needed which recognises the energy and resource-intensive nature of the Australian economy. 

The union at the world's largest copper mine said BHP has promised to respond to its recent proposal for a new contract by 3 pm local time on Monday.

The strong role uranium plays in supporting first world medical practices in Australia was also explored at the conference.

1 Year Iron Ore Fines Price
6 Months Thermal Coal CAPP Price
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