Alpha rebuffs Fission’s $170M offer
VANCOUVER — After almost ending up a neglected project on Denison Mines’ (TSX: DML; NYSE-MKT: DNN) shelf, a 50% stake in the Patterson Lake South (PLS) uranium project has sparked a $170-million takeover.
Financial Matters, M&A
Rio Tinto to close Shawinigan smelter early
Rio Tinto’s (NYSE: RIO; LSE: RIO) aluminum subsidiary Rio Tinto Alcan is closing its aluminum smelter in Shawinigan, Que., in two quick stages so that it can remove 100,000 tonnes per year of aluminum smelting capacity by the end of this…
Sandstorm to acquire Premier Royalty
Nolan Watson — the dynamo who co-founded Sandstorm Gold (TSX: SSL; NYSE: SAND) in the depths of the financial crisis in 2008 after serving as one of the first two employees at Silver Wheaton (TSX: SLW; NYSE-MKT: SAND) and as its chief…
Rio sells Northparkes copper mine for US$820M
VANCOUVER — Rio Tinto (NYSE: RIO; LSE: RIO) has taken another step in its effort to sell non-core assets and reduce its debt with a deal to sell its 80% stake in the Northparkes copper mine in Australia to China Molybdenum (US-OTC: CMCLF)…
Executive compensation and M&A: Preparing for selloffs
Falling commodity prices, rising production costs, and a risk-averse investment community have led to a decrease in mining mergers and acquisitions so far in 2013. With scarce investment dollars available, many junior mining companies are now…
Chinese investment comes at a price for Champion Iron
A Hong Kong investment company has invested $3 million for an 11% stake in Champion Iron Mines (TSX: CHM) and its portfolio of iron ore properties in the Labrador Trough.
Newcrest swallows A$6.2B writedown
Newcrest Mining’s (TSX:NM; ASX: NCM) warning in early June that it would be taking up to a A$6-billion writedown on its various gold mining assets around the world has come to pass, and the bite is a little deeper than first anticipated…
Semafo gets cash for Samira Hill
In a tough gold market, Semafo (TSX: SMF; US-OTC: SEMFF) has turned a non-core asset into cash.
Wheeler River wins more converts for Denison
Denison Mines (TSX: DML; NYSE-Arca: DNN) owns a 60% stake in the Wheeler River uranium project that lies between Cameco’s (TSX: CCO; NYSE: CCJ) Key Lake mill — the world’s largest high-grade uranium mill — and its…
Newmont cashes out of Canadian Oil Sands
VANCOUVER — Newmont Mining (TSX: NMC, NYSE: NEM) has sold its stake in Canadian Oil Sands (TSX: COS; US-OTC: COSWF) to streamline its assets and reduce debt.
Teck and Copper Fox partner up on Schaft Creek
VANCOUVER — Teck Resources (TSX: TCK.B; NYSE: TCK) has a thing for Schaft Creek.
Alamos bids $69M for Esperanza Resources
VANCOUVER — Toronto-based producer Alamos Gold (TSX: AGI; NYSE: AGI) looks to have finally nailed down an acquisition in the form of junior explorer Esperanza Resources (TSXV: EPZ) and its wholly owned Esperanza gold-silver project…