Tag: merger

Barrick Proposes Newmont Merger

Barrick Proposes Newmont Merger

Barrick and Newmont jointly owned the Kalgoorlie Super Pit. BY ELIZABETH FABRI BARRICK Gold has confirmed it is reviewing an opportunity to merge with global rival Newmont Mining in an all-share nil premium transaction. Following various media reports, on 22 February Barrick issued a two sentence statement verifying the news, but assured “no decision has been taken at this time”. The mining giants jointly owned the Kalgoorlie Consolidated Gold Mines (KCGM) venture, which operates the Kalgoorlie Super Pit, in WA. Takeover talks followed an active six months of M&A in the gold space, including Barrick’s $US6.5 billion acquisition of Randgold Resources in January. In January, Newmont had also made a $US10 billion offer to purchase Goldcorp, which was scheduled...

Bald Hill: Fully Charged

Bald Hill: Fully Charged

All Images: Alliance Mineral Assets BY EMMA DAVIES DECEMBER was a big month for the owners of the Bald Hill lithium Joint Venture –Tawana Resources and Alliance Mineral Assets Limited – with a merger finalised between the two companies that is set to take the mine into its next phase of growth. Bald Hill – 50km south east of Kambalda in the Eastern Goldfields region WA – entered commercial lithium concentrate production in mid-2018. To date, the mine has been operated under a 50:50 Joint Venture between Tawana Resources and Singapore-based Alliance. However a merger has been in the works since April that will simplify the mine’s ownership and management, as well as place the merged...

Acquisition spending rises from 2013 lows: report

Acquisition spending rises from 2013 lows: report

By Rachel Dally-Watkins 20 April, 2015 DESPITE an almost double year-on-year increase from 2013, gold and base metal asset acquisitions in 2014 were the third lowest in a decade. According to the SNL Metals & Mining report Base Metals and Gold Acquisitions Activity, 2005-2014 there was a “welcome improvement” in mining asset transactions, but noted that the caution shown by mining companies in 2014 was surpassed only by results from 2013 and 2009. “Since 2012 have bought fewer assets that require large capital investment,” SNL stated. “Instead, companies have opted to maximise the value of assets they already own, and to enter joint ventures that reduce costs while at least maintaining production.” According to the report, there were...