Mining industry
Falconbridge Limited, a leading copper and nickel company, has reaffirmed its unanimous support for Inco Limited's offer to acquire all of its common shares for Cdn$18.50 cash per share and 0.55676 of an Inco share per Falconbridge share. This decision comes after the company'
Mining industry
Phelps Dodge Corp. has announced its full support for Inco Ltd.'s bid to acquire Falconbridge Ltd. This move comes after Xstrata PLC increased its offer for Falconbridge for the second time, to $16.9 billion for the 80% stake it does not already own. Inco's bid,
Mining industry
Phelps Dodge Corp.'s chief executive, Steven Whisler, has expressed confidence that the company's shareholders will support the increased bid for Canadian nickel miners Inco Ltd. and Falconbridge Ltd. Whisler outlined the strategic and financial rationales for the proposed merger, emphasizing the potential cost savings and the
Mining industry
Phelps Dodge Corp. (PD), a US-based mining company, has expressed its stance on Xstrata PLC's raised offer for Falconbridge Ltd. (FAL), a Canadian nickel miner. In a surprise move, Xstrata lifted its bid to $16.2 billion in cash, or C$18.1 billion, to acquire the remaining
Mining industry
Inco's chairman and CEO, Scott Hand, made remarks on the revised bid for Falconbridge Limited, emphasizing the benefits of Inco's offer over Xstrata's bid. Hand highlighted the value creation, regulated approvals, and synergies of Inco's proposal, which would form the world'
Mining industry
Investors flocked to Newcrest Mining Limited after the company's biggest shareholder, Goldman Sachs JBWere, unexpectedly suspended its investment research coverage citing unexplained legal and compliance requirements. The sudden move sparked intense speculation on potential takeover activity, balance sheet restructuring, or an equity issue. As a result, Newcrest shares
Mining industry
The debate surrounding gold mining and its impact on the environment and local communities has been dominated by the discussion between mining companies and non-governmental organizations such as Oxfam America and Earthworks. However, the role of the jewellery retail industry, which accounts for 80% of gold consumption, has been largely
Mining industry
A series of massive mergers and acquisitions propelled Wall Street to a modest advance on Monday, although many investors remained cautious ahead of the Federal Reserve's interest rate decision later in the week. The day's activity was buoyed by news from Phelps Dodge Corp. and Arcelor
Mining industry
The global refined copper market has experienced a significant surplus, with preliminary data indicating a 15,000 metric ton surplus in March. This surplus increases to 59,000 tons after making seasonal adjustments, according to the International Copper Study Group. The takeover battle for Inco Ltd. and Falconbridge Ltd. has
Mining industry
Toronto-based mining and metals companies Inco Ltd. and Falconbridge Ltd. have agreed on a remedy to address potential competition issues related to Inco's pending acquisition of Falconbridge. The remedy involves the sale of Falconbridge's Nikkelverk refinery in Norway and its marketing and custom feed organizations to
Mining industry
Goldcorp Inc., a leading gold producer, has strengthened its board of directors by appointing two new members, Peter Dey and Beverly Briscoe. This move underscores the company's commitment to advancing corporate governance practices and improving its performance. The new directors bring extensive industry experience and expertise to the
Mining industry
Canadian mining company Falconbridge Ltd. announced plans to bring the $1.2 billion El Morro copper project in northern Chile online in 2010. The project, currently in the pre-feasibility stage, is expected to produce 145,000 metric tons of copper and 325,000 ounces of gold per year. Falconbridge owns
