Rio Tinto has agreed to sell its interest in the Grasberg copper-gold mine in Indonesia to state-owned PT Indonesia Asahan Aluminium for $US3.5 billion ($4.7 billion).
Rio Tinto has confirmed that PT Indonesia Asahan Aluminium (Inalum) is interested in buying its share in the Grasberg copper-gold mine in Indonesia.
Cokal is on track to secure the funding it requires to develop the Bumi Barito Mineral (BBM) coking coal project in Indonesia.
Oil and gas giant Santos plans to sell several of its Asian assets to British production and exploration company Ophir Energy for $US221 million ($295 million).
Newcrest Mining has slashed its gold production guidance for the 2018 financial year to reflect the impact of last month’s tailings dam breach at the Cadia mine in New South Wales.
The CIMIC mining services division has been awarded a $240 million contract extension at Arutmin’s Satui mine and a $150 million extension at its Senakin mine, both in South Kalimantan.
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
Recently established Indonesian copper consortium Eastern Field Developments has announced that its shareholding in Finders Resources is now over 50 per cent, making it the majority shareholder.
Global gold mine production finished 2017 fractionally higher than the previous year, according to the World Gold Council (WGC).
Finders Resources, the target of a recent takeover bid by Indonesian investment consortium Eastern Field Developments that the former has cited as “opportunistic”, has received the support of a major shareholder, Taurus Funds Management.
Copper company Finders has reported increases in measured, indicated and inferred resources at its Lerokis deposit of up to 34 per cent.
Thiess, CIMIC’s mining services provider, has been awarded a $300 million contract by Kaltim Prima Coal (KPC) to expand operations at the Sangatta coal mine in East Kalimantan, Indonesia.
ASX-listed Finders Resources has received an off-market takeover bid from Eastern Field Developments, valuing the Perth-based Indonesian copper miner at around $178 million.
Thiess has been awarded a $437 million contract at the Gunung Bara Utama (GBU) coal mine in East Kalimantan, Indonesia.
Thiess, CIMIC’s mining services provider, has secured a $300 million contract extension at Harum Energy’s Mahakam Sumber Jaya (MSJ) coal mine in Indonesia.
Major contractor CIMIC Group has sold its stake in Macmahon Holdings, six months after it launched a takeover attempt for the smaller services company.
Poor weather conditions have disrupted Rio Tinto’s performance at its Pilbara iron ore operations in Western Australia during the first quarter of 2017.
The Takeover Panel has decided not to become involved in Cimic’s proposed acquisition of Macmahon Holdings.
The back-and-forth takeover battle between leading contractor Cimic and its target Macmahon Holdings continues as the suitor’s bid edges towards closing next week.
Macmahon Holdings, which is a takeover target of leading contractor Cimic, has signed an agreement for what it calls a “potentially transformational transaction” that raises doubt about its suitor’s acquisition plans.