Mining industry
In a series of significant deals and financial struggles, General Electric Co. agreed to buy Arden Realty Inc. for $3.2 billion, while Barrick Gold Corp. acquired Placer Dome Inc. for $10.4 billion. Meanwhile, Northwest Airlines Corp. filed for bankruptcy protection and estimates it won't generate significant
Mining industry
Lingbao Gold, a Henan-based gold mining and smelting company, has increased its fund-raising target by 24% to $860 million, as gold prices continue to soar. The company plans to sell 258.5 million shares at an indicative price range of $2.55 to $3.33 each, with a valuation of
Mining industry
A recent study by the Bureau of Fisheries and Aquatic Resources (BFAR) has revealed that various commercial fish species in the waters around Sorsogon province are unfit for human consumption due to high levels of mercury contamination. The affected fishing grounds are near the Rapu-Rapu Polymetallic Project (RPP) of Lafayette
Mining industry
Wall Street News Alert, a division of Wall Street Capital Funding LLC, has named Paramount Gold Mining Corp. (OTC: PGDP) as one of its "stocks to watch" following the successful closing of its private placement financing for $817,750 at $1.26 per share. The financing was over-subscribed
Mining industry
The global gold market has seen a significant increase in interest and investment in recent months, driven by a combination of factors including a rise in gold prices, changes in government regulations, and growing demand from emerging markets. This has led to a number of major developments in the industry,
Mining industry
Placer Dome Inc., a global gold mining company, has released a statement in response to Barrick Gold Corporation's application to the British Columbia Securities Commission to strike down Placer Dome's shareholder rights plan. Placer Dome's President and Chief Executive Officer, Peter Tomsett, stated that
Mining industry
The sale of Citigroup's 14.5% stake in Lihir Gold Ltd. by Anglo-American miner Rio Tinto PLC led to a significant decline in the market value of Lihir Gold. The stock price dropped by 11% to A$2.08, resulting in a market value loss of nearly A$
Mining industry
Major gold players are making strategic moves amidst a $500/oz price level. Rio Tinto has sold its Lihir Gold stake to Citigroup, while North American Palladium names James Excell as president and CEO. Meanwhile, China is emerging as a crucial market for silver, and Harmony Gold sees increasing demand
Mining industry
Placer Dome Inc.'s board is unanimously recommending that shareholders reject Barrick Gold Corp.'s hostile cash-and-stock takeover offer, citing declining production and hedgebook liability at Barrick. This decision comes amid a surge in demand for silver, with antimicrobial efforts driving consumer interest. Meanwhile, Phelps Dodge has been
Mining industry
Barrick Gold Corp. has made a bid to acquire Placer Dome Inc. by offering $20.50 per share, a move that has been met with skepticism by the board of directors at Placer Dome. The board believes that the offer "fails to provide full value for the Placer Dome
Mining industry
Golden Star Resources Ltd., a Jefferson County-based gold producer, is poised to acquire gold exploration company St. Jude Resources Ltd. in a friendly stock swap valued at approximately $75 million. This strategic move will enable Golden Star to strengthen its presence in Ghana, where it already owns two gold mines,
Mining industry
Mineral production has become a significant contributor to Peru's economic growth, with several new mines opening in recent years. In August, the Energy and Mines Ministry reported mixed results, with some minerals seeing significant increases in output, while others showed declines. The government cited production growth at several
