Teck aiming for coal, metals business separation announcement by end of 2023

Mining News Pro - Canadian miner Teck Resources Ltd is aiming to make an announcement on the separation of its coal and metals business by the end of 2023, chief executive officer Jonathan Price said on Thursday.

Vedanta dollar bonds slip after plan to split up India business

Mining News Pro - The dollar bonds of Vedanta Resources slipped, with one dropping the most in more than three weeks, on news Indian billionaire Anil Agarwal is planning to overhaul his sprawling conglomerate to tackle its debts.

Polymetal to sell Russian business in one piece

Mining News Pro - Gold and silver producer Polymetal International plans to sell all of its Russian assets rather than split them up, and will hire an adviser for the deal soon, chief executive Vitaly Nesis said on Thursday.

Teck planning full exit from coal business, in event of partial sale will spin off remainder

Mining News Pro - Teck Resources (TSX: TECK-B) intends to completely exit its coal business, but in the event of only a partial sale, would spin off the remainder to ensure a clean break, a source familiar with the situation said.

JSW Steel considers 75% interest in Teck’s coal business

Mining News Pro - JSW Steel is considering forming a consortium to bid for a 75% interest in Teck Resources’ steelmaking coal business, according to a Bloomberg report.

Polymetal considers divestment of Russian business

Mining News Pro - Gold and silver producer Polymetal International is considering divesting its Russian operations and senior managers have resigned from Russia-related duties after the imposition of US sanctions, the company said on Monday.

China’s state iron ore buyer gets down to business, yet to flex pricing power

Mining News Pro - China’s new state iron ore buyer is asserting itself in negotiating deals for the world’s biggest steel industry but has yet to help manufacturers struggling with weak demand to get lower prices, mills and miners said.

General Motors digs into mining business to lead race for EV metals

Mining News Pro - General Motors is trying to speed ahead in the race for metals underpinning the industry’s shift to electric cars.

Vale to break out base metals business, sell stake in 2023

Mining News Pro - Vale is breaking out its nickel and copper business at a time when demand for metals used in wiring and electric-vehicle batteries has accelerated in the move away from fossil fuels.

Vale to break out base metals business, sell stake in 2023

Vale is breaking out its nickel and copper business at a time when demand for metals used in wiring and electric-vehicle batteries has accelerated in the move away from fossil fuels.

Burkina Faso miners say business as usual despite coup

Mining News Pro - Miners in Burkina Faso say operations have not been affected by spreading social unrest following an internal coup d’état over the weekend that saw the country’s president, Lt.-Col. Paul Henri Sandaogo Damiba, overthrown after only nine months in power.

Sumitomo invests in Perenti tech business

Mining News Pro - Sumitomo has acquired 10 per cent of Perenti Global’s technology informed services business, idoba, for a total of $5.4 million.

Battery boom pulls trading giant Trafigura into lithium business

Mining News Pro - Trafigura Group said its plan to invest in a new UK lithium refinery will mark the start of the trading giant’s foray into buying and selling the crucial battery metal.

Holcim to sell India business to Adani in $10 billion deal

Mining News Pro - Swiss building-materials firm Holcim Ltd. agreed to sell its Indian operations to local billionaire Gautam Adani, currently the richest person in Asia, another step in Chief Executive Officer Jan Jenisch’s pivot away from traditional cement

Business group blasts Mexico’s new lithium law as violating trade deal

Mining News Pro - A Mexican law that nationalizes its future lithium industry violates its trade obligations and could prove costly to the government if mining companies seek to recoup losses, the local branch of the International Chamber of Commerce said on Wednesday.

Petropavlovsk weighs sale of business after Russia sanctions

Mining News Pro -London-listed Russian gold producer Petropavlovsk is considering putting itself up for sale, it said on Thursday, following sanctions on Russia and the risk of countermeasures.

Rio Tinto cuts ties with Russian businesses over Ukraine war

Mining News Pro - Rio Tinto has become the first major mining company to announce it was cutting all ties with Russian businesses, joining a massive exodus of Western companies since Moscow’s invasion of Ukraine.

Committing to carbon neutrality, venturing into forward-facing commodities is miners’ way to stay in business

Mining News Pro - Cutting their own emissions is the most effective way for miners to respond to climate change, White & Case’s annual Mining & Metals Survey found.

Teck seeks sale of stake in $8 billion coal business

Mining News Pro - Teck Resources Ltd. is exploring the sale of a minority stake in its metallurgical coal business as it seeks to take advantage of surging prices for the commodity, people familiar with the matter said.

Activist Bluebell asks Glencore to separate its coal business

Mining News Pro - Activist hedge fund Bluebell Capital Partners has asked Glencore Plc to separate its thermal coal business because it has become a barrier to investment.

Gold price spike brings value for smart business

Mining News Pro - Spot gold prices have hit another five-month high – the second time in 2021 they’ve peaked at such an interval – reaching $US1866 ($2544) per ounce to end Friday, November 12.

Pallinghurst to beef up EV battery metal business with stake in Talon Metals

Mining News Pro - Mining investor Pallinghurst Group will acquire a 19.2% stake in electric-vehicle battery metal miner Talon Metals Corp for about $80.2 million, as it looks to tap the opportunity arising from growing demand for EVs to cut carbon emissions.

Iron ore price brings growing business back to Earth

Mining News Pro - Iron ore prices have dropped below $US100 per tonne for the first time since early November 2020, bringing promising Australian projects to unfeasible standstills.

Atlas Iron awards unprecedented contract for Indigenous business

Mining News Pro - Atlas Iron has handed a joint venture mining contract to East West Pilbara (EWP) and Ozland at its Miralga Creek iron ore mine in Western Australia.

Austrade helps business follow friendship in India

Mining News Pro - The Australian Trade and Investment Commission (Austrade) has strengthened the relationship between Australian manufacturers and the Indian mining sector which relies on the import of equipment.

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