Aurizon rejects Alamos’ offer
Aurizon Mines (ARZ-T, AZK-X) has rejected Alamos Gold’s (AGI-T) hostile bid calling it “financially inadequate and opportunistic.”
Financial Matters, M&A
Karnalyte lands Indian investor for Wynyard potash
Karnalyte Resources (KRN-T) is getting a much-needed financial boost in its drive to develop its wholly owned Wynyard potash project located outside the township of Wynyard, Sask. India’s publicly traded Gujarat State Fertilizers &…
Rio Tinto pays a steep price for Alcan purchase
London-based mining giant Rio Tinto (RIO-N, RIO-L, RIO-A) is haunted by the ghosts of past acquisitions, with the largest culprit being its US$38-billion takeover of Montreal-based aluminum major Alcan in 2007.
Rio Tinto pays a steep price for Alcan blunder
VANCOUVER — London-based mining giant Rio Tinto (RIO-N, RIO-L, RIO-A) continues to be haunted by the ghosts of past acquisitions, with the largest culprit being its US$38-billion takeover of Montreal-based aluminum leader Alcan in 2007.
Alamos goes hostile on Aurizon
After pursuing Quebec-focused Aurizon Mines (ARZ-T, AZK-X) for years, Alamos Gold (AGI-T) has finally gone hostile, announcing a $780-million, cash-and-share bid for the junior gold miner.
ARMZ’s $1.3B offer for Uranium One too low, analysts say
Uranium One (UUU-T) shareholders should “demand higher compensation” from majority owner ARMZ, which is bidding $1.3 billion to take the company private, one analyst says.
Cameco closes Nukem acquisition
It took longer than expected, but Cameco (CCO-T, CCJ-N) has cleared all its regulatory hurdles and acquired nuclear fuel trader Nukem Energy GmbH.
Harry Winston sells jewelry arm to Swatch for $1 billion
VANCOUVER – Eight years after getting into the jewelry sector, Harry Winston Diamond (HW-T) is locking in its gains and getting out, selling its luxury retail unit to Switzerland’s Swatch Group in a $1-billion deal.
Is the iron ore rally overdone?
Spot prices for iron ore fines delivered to China touched a three-year low in September 2012 of US$87 per tonne before rebounding to US$119 per tonne in December and to the US$158-US$160 per-tonne level of recent days. The question is, where…
ArcelorMittal sells 15% stake in Canadian unit to Asian group
With demand for steel in Europe tumbling about 8% in 2012 and a cumulative 29% since 2007, Luxembourg-based steel maker ArcelorMittal (MT-N) has decided to sell a 15% stake in ArcelorMittal Mines Canada to an Asian consortium including South…
ArcelorMittal sells Canadian stake to Asian consortium
With demand for steel in Europe tumbling about 8% in 2012 and a cumulative 29% since 2007, Luxembourg-based steel maker ArcelorMittal (MT-N) has decided to sell a 15% stake in ArcelorMittal Mines Canada to an Asian consortium — including…
First Majestic buying Orko Silver for La Preciosa
“To add the amount of ounces we’re adding, there are simply not a lot of opportunities — it was almost a must-have for us to add this asset to our portfolio,” First Majestic Silver (FR-T) president and CEO Keith Neumeyer…