Mining Industry Market Reports

  Rio Tinto has reached a binding agreement for the sale of its wholly-owned Australian subsidiary Coal & Allied Industries Limited to Yancoal Australia Limited for up to $2.45 billion comprising:An initial $1.95 billion cash payment, payable at completion; and $500 million in aggregate deferred cash payments, payable as annual instalments…
Glencore is to sell its Glencore Rail (GRail) coal haulage business in the New South Wales Hunter Valley to Genesee & Wyoming Australia (GWA) for A$1.14bn ($866m).                                                                                        The company’s latest move forms another part of its debt reduction programme.Upon completion of the sale, GWA will service the majority of Glencore’s…
Metals Group wishes to advise that it has agreed to acquire BC Iron’s 75 per cent interest in the Nullagine Joint Venture for A$1.00. Fortescue will assess the viability of restarting operations having regard to ongoing market conditions.The acquisition includes all assets and rehabilitation obligations of the NJV. Fortescue will…
Anglo American plc announces the completion of the sale of its Niobium and Phosphates businesses in Brazil to China Molybdenum Co. Ltd, following the agreement announced on 28 April 2016. The economic benefits of the businesses will transfer to CMOC as of the end of 30 September 2016.Anglo American has…
Rio Tinto has completed the sale of its 74 per cent of Zululand Anthracite Colliery (ZAC) to Menar Holding, for an undisclosed sum.ZAC, an underground mine in Zululand, South Africa, produces premium quality anthracite for international and domestic customers and has more than 1,300 employees and contractors. The remaining 26…
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