Saturday 19 April 2014
 
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Mining

Ma'aden progressing in bank finance deal talks

Saudi Arabian Mining Company (Ma'aden) aims to close fundraising for its $7 billion phosphate project before the end of the year, and talks with lenders are progressing well, its chief executive said. The cash will be used to

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Quest Qualitas to highlight mining opportunities

East Africa-focused heavy equipment supply and services specialist Quest Qualitas is leading two conference sessions at the 2013 Mena Mining Show, starting today (October 28). The company will highlight the latest opportunities in

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Bechtel to set up mining office in the UAE

Bechtel, one of the world’s leading engineering, procurement and construction companies, has announced plans to set up its regional office in the UAE.   The move is aimed at helping the company focus on its

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Dubai Caterpillar dealer inks $700m loan deal

Unatrac Holding Limited (Unatrac), one of the largest dealers of Caterpillar Inc. (CAT) machinery, said it has successfully signed a new $700 million syndicated three year revolving credit facility. 

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Glencore eyes finish line in marathon Xstrata deal

Shareholders in commodities trader Glencore have overwhelmingly approved its long-awaited $31 billion takeover of miner Xstrata, paving the way for one of the largest tie-ups in the sector to date. After nine months of tense negot

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Citadel company starts glasswool production

GlassRock Insulation Company, a portfolio company of Citadel Capital’s regional mining platform Ascom, said it has successfully completed the commissioning phase of its new production line for glasswool, an insulating material made from fi

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ABB wins $24m Saudi Maaden contract

Leading power and automation technology group ABB has won a $24 million contract from Saudi-based Ma’aden Aluminium Company (MAC) to execute a fast-track transmission substation project in the northeast of the Kingdom. The Saudi A

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Umm Wual phosphate project viable: Maaden

Saudi Arabian Mining (Maaden) said on Monday it had completed a preliminary feasibility study and plans a project to exploit phosphate deposits at Umm Wual in the north of the country. The state-controlled minerals firm is awaiting licens

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DSI wins Egypt petchem contract

Drake & Scull International (DSI), a market leader in integrated design, engineering and construction sector, said it has won a Dh142 million ($38.6 million) construction contract for a mining grade ammonium nitrate plant in Egypt. The

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Maaden swings to Q3 net profit

Saudi Arabian Mining Co (Maaden) swung to a net profit of 27.4 million riyals ($7.3 million) in the third-quarter, but the results missed analyst forecasts. Maaden made a net profit of 27.4 million riyals in the third quarter, compared wit

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