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Iamgold said to explore sale amid gold sector consolidation

By: Bloomberg     17th May 2019 Canadian miner Iamgold is exploring a possible sale of all or part of the company amid a wave of consolidation in the gold sector, according to people familiar with the matter. The Toronto-based miner is working with advisers and has spoken to several potential buyers, said the people, who asked... 

Trade war spurs 'change in attitude' on gold for spooked markets

By: Bloomberg     15th May 2019 Donald Trump’s tweets are keeping global financial markets on edge, and many investors are opting for gold as a refuge. Gold open interest, a tally of outstanding futures contracts, surged the most since mid-2016 on Monday to the highest in more than seven weeks. Prices of the metal have advanced... 

Barrick Gold prepping sale of Zambian copper mine in H2 – sources

By: Reuters     14th May 2019 Barrick Gold, the world's second largest bullion miner, is preparing its Zambian copper mine Lumwana for sale in the second half of 2019, looking to target Chinese buyers, three sources with knowledge of the matter said. Fresh from two major deals in recent months, Barrick has said it plans to... 

Lone US rare-earth miner target of China tariffs, CEO says

By: Bloomberg     13th May 2019 The only US rare earths miner is crying foul over China’s decision to raise tariffs on American shipments of raw materials used in electric vehicles. MP Materials – once the world’s biggest producer of rare-earth materials – exports 3 000 to 4 000 metric tons of concentrates to the Asian nation... 

Vale posts first loss since late 2015 after fatal dam disaster

By: Bloomberg     10th May 2019 Vale reported its first quarterly loss since late 2015 as the company set aside funds to cover damages, legal costs and other obligations related to the dam disaster that left hundreds dead in January. The world’s largest iron ore producer set aside $4.5-billion and posted a loss of... 

'Crazy premiums' for gold assets are over, B2Gold CEO says

By: Bloomberg     9th May 2019 A wave of consolidation is coming in the gold mining industry, but don’t count on buyers overspending on assets, B2Gold CEO Clive Johnson said. “You have an environment now where people are learning their lesson, which is don’t get in bidding wars and pay crazy premiums to acquire companies,”... 

Barrick CEO expects to raise $1.5bn in asset sales

By: Bloomberg     8th May 2019 Barrick Gold, which completed its acquisition of Randgold Resources at the beginning of the year, has identified $1.5-billion in assets the miner intends to sell, CEO Mark Bristow said. “Our focus is realizing $1.5-billion through next year,” Bristow said Wednesday in an interview in Toronto.... 

Anadarko accepts Occidental bid; Chevron may now respond

By: Bloomberg     7th May 2019 Anadarko Petroleum’s board has declared Occidental Petroleum’s sweetened $38-billion takeover “superior,” giving Chevron until May 10 to either boost its offer or walk away from the oil industry’s biggest deal in at least four years. The announcement by Anadarko, which had rebuffed several prior... 

Struggling junior miners woo investors to fund exploration projects

By: Reuters     3rd May 2019 Junior miners, struggling to fund exploration as institutions seek lower risk and better returns from larger rivals and newer industries, sought to sell potential investors on projects on Thursday, with mixed success. The proliferation of index funds, sluggish gold price growth and a shift into... 

Iamgold CEO expects more buyout deals in gold industry

By: Reuters     2nd May 2019 The gold industry is likely to see an increase in buyout deals in the near future as miners fight to attract a shrinking pool of investment capital, the chief executive of Canada's Iamgold said on Wednesday. The industry's buyout frenzy was sparked earlier this year when Barrick Gold and... 

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