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Mining industry

Global Mining Industry Update: Stake Sales, Acquisitions, and Protests

Strategic Insights

— 1 min read

The global mining industry is experiencing significant activity, with various players engaging in stake sales, acquisitions, and protests. In India, Vedanta Resources PLC is looking to acquire Anglo American PLC's zinc business, while in Peru, protests against a copper mine operated by Southern Copper Corp. are expected to continue. Meanwhile, in Canada, a copper deposit acquisition by a Polish miner is expected to be finalized soon. The Zambian government is also in talks with miners' unions over the rising number of expatriates in the mining sector.

Key Takeaways:

  • Vedanta Resources PLC is seeking to acquire Anglo American PLC's zinc business, with no purchase price disclosed.
  • Polish miner KGH expects to finalize a copper deposit acquisition in Canada soon, with production set to start in 2013.
  • Protests against the Southern Copper Corp. copper mine in Peru are expected to continue, with local residents expressing concerns over environmental and social impacts.
  • The Zambian government has initiated talks with miners' unions over the increasing presence of expatriates in the mining sector, which has led to rising unemployment among local miners.
  • Base metals, including copper, saw a decline in prices on the London Metal Exchange (LME) in Asia, following losses in London.
  • Copper futures plummeted due to the surge in fraud charges against Goldman Sachs, causing investors to flee riskier assets.

Statistics:

  • Vedanta Resources PLC seeks to acquire Anglo American PLC's zinc business.
  • Polish miner KGH expects production to start in 2013 in Canada after finalizing a copper deposit acquisition.
  • Protests against the Southern Copper Corp. mine in Peru are ongoing.
  • 10% stake sale in National Aluminium Co. Ltd. (Nalco) proposed by the finance ministry in India.
  • Copper futures fell sharply on the LME in Asia following losses on the London LME.
  • Zinc prices declined along with other base metals on the LME in Asia.

Sources:

  • Dow Jones Commodities News via Comtex (Apr 19, 2010)
  • Parkiet (Apr 19, 2010)
  • Economic Times Web site (Apr 19, 2010)
  • Miners' Union of Zambia (Apr 16, 2010)
  • Dow Jones Newswires (Apr 19, 2010)

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