Thursday 31 July 2014
 
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Mining

Ma'aden signs $5bn loan for phosphate project

Saudi Arabian Mining Co (Ma'aden) has signed a $5 billion financing deal with commercial banks and a state-owned investment fund to back its $7.5 billion phosphate production project in the kingdom, it said in a statement on Tuesday (July

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Ma'aden Q2 net profit jumps

Saudi Arabian Mining Co (Ma'aden) posted a significant jump in second-quarter net profit on Tuesday, beating the forecasts of analysts. The miner made a net profit of 370.8 million riyals ($98.9 million) in the three months to

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Saudi's Ma'aden inks $5bn financing deal

Saudi Arabian Mining Co (Ma'aden) has signed a $5 billion financing deal with commercial banks and a state-owned investment fund to back its $7.5 billion phosphate production project in the kingdom, it said in a statement on Tuesday.

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Top Moroccan miner upbeat on growth

Compagnie Minière de Touissit (CMT), the second largest mining company in Morocco, has the potential to significantly expand its mine life through the future conversion of 6mt of inferred resources and 5mt of measured and indicated resour

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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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