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Venezuelan Joint Venture With Rusian for Gold Mine Exploration
President Hugo Chavez is awarding a valuable gold mining concession to a joint venture between a Russian-financed company and the Venezuelan government, in an apparent bid to secure new sources of state income as oil prices fall.
Oil and Gas Exploration Project Fall in Prices
From the plains of North Dakota to the deep waters of Brazil, dozens of major oil and gas projects have been suspended or canceled in recent weeks as companies scramble to adjust to the collapse in energy markets.
Rusian Mining Exploration Company, Russia’s Norilsk Nickel Stretches From Arctic to SA, US to Australia
In July 2007, a Canada-domiciled mining company was acquired by a Russian group for $5,2-billion. That company was LionOre, and it had assets in Southern Africa – an 85% share in Tati Nickel, in Botswana, and a 50% stake in Nkomati Nickel, in South Africa.
LionOre’s buyer was the giant Russian mining and metallurgical group, OJSC [...]
Reached Record Levels Mining Industry Company Merger & Acquisition
Merger and acquisition (M&A) activity in the mining industry reached record levels last year and 2008 is set to be the year of super consolidation, with the global credit crunch having little effect, a new report says.
In 2007 the number of mergers and acquisitions soared by 69 per cent, from 1,732 deals in 2006, PriceWaterhouseCoopers [...]
Russian Norilsk Nickel found reach deposit in Canada
MK Norilsk Nickel has found in Canada nickel concentrate for its Finland’s refinery. The raw will be bought from Canadian Royalties, where Norilsk Nickel is a minority holder.
The investments in the project that will produce the first concentrate by late 2009 are estimated at no less than $150 million. The analysts predict that GMK will [...]
Norilsk Nickel takes over North American mining company
Russian metals giant Norilsk Nickel won a tough battle against Swiss-based Xstrata for the Canadian nickel and gold producer LionOre, offering $6.4 billion.
Norilsk Nickel has become the first Russian company to outmaneuver a formidable foreign rival in a battle for an attractive foreign asset. Although some experts said it paid too much for LionOre, its [...]
Norilsk Nickel acquires LionOre for $6.8B as stockholders tender shares
Norilsk Nickel, the world’s biggest producer of the metal, said Friday that shareholders with 90 per cent of Canada’s LionOre Mining International Ltd. stock (TSX:LIM) have accepted its C$6.8-billion offer.
That paves the way for the full takeover of the company in the biggest-ever foreign acquisition by a Russian enterprise.
With its offer for LionOre, which has [...]
Gulfside Clarifies Agreement to Acquire Coal Project
Robert L. Card, President of Gulfside Minerals Ltd. (the “Company”), reports that as a result of a review by the British Columbia Securities Commission, the Company is issuing the following news release to clarify disclosure relating to a Letter of Intent agreement to acquire the Erdenetsogt Coal Project in Mongolia.
The Company’s news release dated June [...]
Russia’s Norilsk Nickel extends offer for LionOre
Russia’s Norilsk Nickel [RTS: GMKN] said Monday it had extended its cash offer to acquire the common stock of Canada’s gold and nickel producer LionOre until June 28.
Norilsk Nickel, one of the world’s largest producers of nickel, palladium, platinum and copper, offered in early May to buy all of LionOre’s common stock, paying 21.50 Canadian [...]
