Erdene Resource Development Price: 0.15 Market capitalization: $14.5 million Peter Akerley, the CEO of Erdene Resource Development (ERD-T), first set foot in Mongolia 18 years ago. At the time, few westerners had. The geologist, then 33, was working for a group that included a Barrick Gold joint venture and had managed to lock up 4… Continue Reading
Ian Hannam, often referred to as the “The Rainmaker” (also “the King of Mining”), headed up JPMorgan’s mining business and has advised on most of the major mining deals over the past 15 years, including the $90 billion merger between Glencore and Xstrata in 2012. Nobody has done more mining deals than Hannam. Now he is back, after a brief hiatus, and… Continue Reading
Senior analyst at global research firm Sanford Bernstein, Paul Gait, says a merger between Glencore and Rio Tinto to form GlenTinto makes a lot of sense. He spoke to Andrew Bell on BNN’s Commodities. “I think the shareholders of both companies (Glencore and Rio Tinto) ought to welcome the deal,” Gait believes. “If you look at… Continue Reading
After much speculation around the world (including CEO.ca), Rio Tinto issued a statement claiming that although they had been approach by Glencore in July 2014 about a potential merger; those talks ended a month later after Rio’s board decided “a combination was not in the best interests of Rio Tinto shareholders.” The fact Rio acknowledged Glencore’s intentions probably… Continue Reading
According to preliminary reports today from Bloomberg, Glencore (GLEN:LN) which is the fourth largest mining company by market capitalization is entertaining the idea of merging with iron-ore juggernaut Rio Tinto which would create the world’s largest mining company in a +$160 billion deal. According to the report, Ivan Glasenberg (Glencore’s CEO) has begun talks with Aluminum Corp.… Continue Reading
Iron ore is the lifeblood of industrial development with China’s ‘build it and they will come’ policy driving prices to a high of over $180 per tonne in 2011. Flash forward and iron ore prices have slumped to break below $80 per tonne, the lowest level in 5-years. This is causing more pain for an… Continue Reading
According to reports this morning, the world’s largest steel maker (ArcelorMittal) and the world’s largest mining company (Glencore Plc) are two of the parties interested in bidding for a piece of the Simandou iron-ore project in Guinea which is the biggest undeveloped iron-ore projects on the planet. The Simandou project has been somewhat of a ‘white buffalo’ and has… Continue Reading
