IRJ – February 3– It looks like tumultuous discussions ahead for London listed coal producer Bumi Plc. (“Bumi”), as India’s Bakrie family and the Bumi shareholder company piloted by Indonesian businessman Samin Tan, Borneo Lumbung Energi & Metal (“Borneo”), have formally asked for U.K. financier Nat Rothschild (Bumi co-Chairman), co-founder James Campbell and Chief Executive Officer Ari Hudaya to be ...
IRJ – February 3 – London-listed oil and gas growth story Tullow Oil Plc. (LSE: TLW) (“Tullow”) saw its shares shoot up by more than three per cent upon announcements that the company has inked signed two new production licences marking the end to a long-abated US$2.9 billion asset sale. The agreements, which see Tullow take two-thirds of its ...
IRJ – February 3 – IRJ COMMENT: The potential £50 billion (US$82 billion) merger-of-equals between Swiss commodities and mining neighbours Glencore International Plc (“Glencore”) and Xstrata Plc (“Xstrata”) is quite literally yesterday’s news now that early market indications have thrown mining multinational Anglo American (“Anglo”) into the mix. Rumours abound on whether Anglo may prove to be a ...
IRJ – February 2 – South African miner Exxaro Resources Limited (EXX) announced Thursday that the A$0.51 per share takeover offer tabled by its subsidiary, Exxaro Australia Iron Investments Pty Ltd (Exxaro), for Africa Iron Limited is officially final. The offer terms state that the A$0.51 per share offer for Africa Iron will increase to A$0.57, providing Exxaro acquires ...
IRJ – February 2 – Commodities trading behemoth Glencore International Plc. has initiated talks with mining multinational Xstrata Plc. aimed at allowing the former to purchase outstanding shares in the latter, adding Asian and African coal, nickel and copper mines back into its haul, Thursday. The news of this seldom seen world-scale potential M&A action between both Swiss-headquartered mining ...
IRJ – February 2 – The Namibian Ministry of Mines and Energy has granted full approval to Enigma Oil & Gas Exploration Limited (“Enigma”), a subsidiary of London listed Chariot Oil & Gas Ltd (CHAR.L) (“Chariot”), for the farmout of its 25 per cent share in Block 2714A to multinational energy firm British Petroleum (“BP”), Thursday. The deal originally ...
IRJ – February 1 –Colombia’s national oil company Ecopetrol S.A announced that its proven net reserves rose by 8.3 per cent in 2011 to total 1,857 million barrels of oil equivalent (MMBOE), Wednesday. Updating the figure significantly from the 1,714 MMBOE total recorded at the end of 2010, Ecopetrol stated that the reserve replacement ratio in 2011 was 164 ...
IRJ – February 1 – Director Brad Skelton, of Australian mining and construction equipment freight forwarding giant Skelton Sherborne, tackled Queensland’s 2012 economic outlook last week when he launched a trend-setting index capable of measuring heavy machinery and tyre imports. Skelton pointed out that the mining industry is “the backbone of Queensland and a key reason behind Australia’s growth ...
IRJ – January 31 – France’s Total SA plans to commence oil exploration at the concession held by the energy multinational in Jonglei, South Sudan, according to the nation’s chief negotiator, Tuesday. Speaking to reporters in Juba, Pagan Amum stated that the company has “already committed” to this activity and alluded that the firm may have pledged to go ...
IRJ – January 31 – According to Michel Edzang, an official at the Gabonese Mining Department, the rumoured deal to hand over Belinga—the nation’s biggest iron ore deposit—to BHP Billiton (“BHP”) looks likely to come to light next week, reports stated late on Monday. If his comments prove true, the deal will see Gabon take the Belinga project from ...
IRJ – January 30 – Russian London-listing hopeful Polyus Gold International Ltd (“Polyus”) has reported a 40 per cent core earnings rise for 2011, Monday, just days after the rumours surfaced of a potential merger between the group and London-listed fellow Russian miner Polymetal International Plc (“Polymetal”). Polyus reports that its earnings for the aforementioned year jumped to more ...
IRJ – January 30 – The Nordic Investment Bank (NIB) is to provide financing for a 140 megawatt gasification bioenergy project in Finland, totalling €18 million over a seven-year maturity loan term, Monday. The project, planned for construction in Vaasa, aims to reduce coal production for energy by replacing an existing coal plant with biomass and peat output. Press ...
