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Glencore shares bounce back after HK surgeShares in trader and miner Glencore surged as much as 20 per cent in London on Monday, following a 25-per cent leap on the Hong Kong market, as hopes for deal-making trumped worries over a slump in metals prices. Reuters reported More… |
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Saudi's Ma'aden Q2 net profit falls 27pcSaudi Arabian Mining Company (Ma'aden), the Gulf's largest miner, posted a 27.2 per cent fall in second-quarter net profit on Tuesday, missing analysts' forecasts. Net profit for the three months to June 30 was SAR270 More… |
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Rio Tonto to sell aluminium assets in $1bn dealGlobal miner Rio Tinto plans to sell some of its aluminium assets in a potential $1 billion deal, the Financial Times reported, reviving a sale plan for its Pacific Aluminium unit two years after it was cancelled. The Financial Ti More… |
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Rio Tonto to sell aluminium assets in $1bn dealGlobal miner Rio Tinto plans to sell some of its aluminium assets in a potential $1 billion deal, the Financial Times reported, reviving a sale plan for its Pacific Aluminium unit two years after it was cancelled. The Financial Ti More… |
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Maaden, Alcoa smelter output to top targetSaudi Arabian Mining Company (Ma'aden) said a massive smelter run jointly with US group Alcoa, which had experienced few technical glitches on start-up, will produce above its initial capacity target this year. The smelter sta More… |
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French groups to sell $452m UK assets to MittalCement maker Lafarge and miner Anglo American have agreed to sell British assets for up to £285 million ($452 million) to Indian steel tycoon Lakshmi Mittal, thus clearing the way for a building materials joint venture in the country. More… |
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Qatar pressures Glencore to sweeten Xstrata bidQatar, Xstrata's second largest shareholder, threw a huge roadblock in the way of Glencore's $30 billion takeover of the miner with a surprise demand on Tuesday for better terms. The 11th hour rebuff will make it very difficu More… |
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Qatar 'kingmaker in Glencore-Xstrata merger'Qatar's 7 per cent stake in Xstrata, makes it not only the miner's largest investor after Glencore, but also a potential kingmaker in the two companies' merger and an unknown quantity for its future that investors are desperate to read More… |
