Beny Steinmetz to be prosecuted in Switzerland for alleged bribery, Report
Geneva prosecutor Claudio Mascotto is accusing the Israeli billionaire Beny Steinmetz and two other people on suspicion of corruption. The three are suspected of giving $10 million in bribes to the wife of the More...
Israel Chemicals teams with Leviev Group on Namibian phosphate mining
Israel Chemicals (ICL) has signed a Memorandum of Understanding with LLNP Ltd., a Namibian subsidiary of the Leviev Group, to perform a feasibility study for building a large-scale maritime mining More...
Glencore Starts Selling Assets in Chile and Australia
The trading-cum-mining group Glencore today announces the commencement of a process to sell its wholly-owned Cobar copper mine in Australia and Lomas Bayas copper mine in Chile, adding to a $10 billion debt-cutting More...
Glencore chief Ivan Glasenberg plans to raise $2.5 billion; Investors push into restructure on debt fears
Mounting pressure from investors has forced debt-laden commodities giant Glencore into a $US2.5 billion ($3.6 billion) equity raising to protect its investment grade credit rating, which is needed to More...
Ivan Glasenberg’s Glencore Set for Worst Week Ever as Mining Shares Extend Losses
Glencore Plc shares headed for the biggest weekly decline since the company went public in 2011 as the selloff in mining shares showed no signs of slowing. Glencore slid 5.9 percent on Friday, bringing More...
Icahn becomes top Freeport-McMoRan shareholder
Activist investor, Carl Icahn, has disclosed a stake of 88 million shares in Freeport-McMoRan, mining and oil group. Icahn said he wants to talk to the company about its capital spending and possible More...
Glencore Reports Loss, Warns on Trading Profit
London based Glencore PLC swung to a steep, first half-year loss, hit by sharp price falls in the raw materials it extracts and lower profit from the trading business that was supposed to cushion More...
Barrick Gold Sells 50% Stake in Zaldívar Mine to Antofagasta
Barrick Gold Corporation the world’s largest producer of the metal, agreed to sell a 50 percent interest in the Zaldívar copper mine in Chile to Antofagasta Plc for a total consideration of $1.005 More...
Mick Davis’s X2 in ‘serious’ talks for Rio Tinto’s coal assets in Australia: FT
The Financial Times reported this morning that Mick Davis, the former head of Xstrata, is in “serious” talks with Rio Tinto about a multibillion-dollar offer to buy some of the global miner’s Australian More...
Barrick Gold sells Australia’s Cowal mine for $550 million
The world’s largest gold mining company, Barrick Gold Corp., has sold its entire stake in Australia’s Cowal gold mine to local gold producer Evolution Mining Ltd. for an estimated $550 million. This More...