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Dubai Caterpillar dealer inks $700m loan dealUnatrac 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. More… |
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Glencore eyes finish line in marathon Xstrata dealShareholders 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 More… |
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Citadel company starts glasswool productionGlassRock 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 More… |
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ABB wins $24m Saudi Maaden contractLeading 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 More… |
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Umm Wual phosphate project viable: MaadenSaudi 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 More… |
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DSI wins Egypt petchem contractDrake & 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 More… |
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Maaden swings to Q3 net profitSaudi 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 More… |
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Saudi, Sudan to produce minerals from Red SeaSaudi Arabia and Sudan plan to produce within three years gold, silver and copper in large quantities from the bottom of the Red Sea, trying to execute a project in planning for almost four decades, a senior Sudanese official said. Both Ar More… |
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Omani firm looks at buys in Toronto, LondonMB Holding, an Omani mining and energy group, plans to take advantage of depressed valuations to buy a stake in listed firms on the Toronto and London exchanges, its chairman said on Monday. Mohamed Al Barwani said the Omani firm, whose op More… |
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Russia in zinc mining deal with IranRussia has agreed to develop an Iranian zinc deposit that is among the largest in the world in a deal involving an Iranian bank that faces international sanctions, the Russian business newspaper Kommersant reported on Tuesday. The agreemen More… |
