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Commodities Trader
 
CAPITAL RAISE

Ascot signs up Gunvor for capital raise

ASX-listed Ascot Resources has signed up global commodities trader Gunvor Group to participate in a capital raise. Ascot on Friday told shareholders that Gunvor would acquire some 20-million new shares in Ascot, at a price of 25c each, for a...
5th September 2014
 
DISPOSAL

Wasat disposes of 20% stake in Metmar

Share trader Wasat Investments has, with immediate effect, disposed of its 20.5% shareholding in diversified commodities trader Metmar. The company said on Monday that it had offloaded its shareholding of 55.04-million Metmar shares to Borman...
4th August 2014
 
IRON-ORE

Sundance inks offtake agreement with Noble

Iron-ore developer Sundance Resources has signed a ten-year offtake agreement with commodities trader Noble Resources over its Mbalam-Nabeba project, on the border between Cameroon and the Republic of Congo. MD Giullio Casello said the offtake...
25th March 2014
 
COMMODITIES

Metmar swings to H1 loss as commodity pressures bite

Amid generally depressed commodity prices and a subsequent dip in demand, JSE-listed commodities trader Metmar swung to a loss of R48-million for the six months ended August 31, from a R4.8-million operating profit in the first six months of the...
29th October 2013
 
Cartoon

STILL HUNGRY

The combination of Xstrata with Glencore is, in the minds of several analysts, just the beginning of Glencore CEO Ivan Glasenberg’s plans, despite the combined $66-billion market capitalised company now being the world's fourth biggest mining...
7th June 2013
 
DIVERSIFIED MINERS

Glencore Xstrata outlines integration initiatives

The newly formed Glencore Xstrata has confirmed that integration initiatives are under way, with clear leadership and reporting lines already in place and an industrial asset portfolio review currently in progress. The combination of commodities...
3rd May 2013
 
BAUXITE

Qld announces tender shortlist for $25bn Aurukun development

The Queensland government has announced a shortlist of companies to tender for the development of the A$25-billion Aurukun bauxite deposit, in Cape York. The Queensland government called for expressions of interest to develop the deposit in...
23rd April 2013
 
M&A

Davis agrees to step down as Glencore-Xstrata merger clears last major hurdle

Xstrata CEO Mick Davis has agreed to not take up the six-month role of CEO and executive director of the combined Glencore Xstrata group – one of the conditions set by China’s Ministry of Commerce (Mofcom) for it to approve the $33-billion...
16th April 2013
 
CORPORATE ACTIVITY

Xstrata, Glencore hearing in SA postponed

A hearing by South Africa's Competition Tribunal on commodities trader Glencore's $33-billion takeover of miner Xstrata has been postponed until next month, the tribunal said on Monday. Glencore was expected to defend its case this week after...
10th December 2012
 
Murray & Roberts Cementation

Focused on expanding African footprint, commodity diversification, safety Video Available

As part of its growth strategy, mining contracting company Murray & Roberts Cementation is growing its presence in Africa and is planning to establish a regional office in Kitwe, Zambia, by June next year to service its current operations in that...
7th December 2012
 
BASE METALS

YTC inks A$158m financing, offtake deal with Glencore

Metals developer YTC Resources has secured a A$158-million financing and offtake agreement with commodities trader Glencore International to fund the construction of its Hera and Nymagee projects, in New South Wales. Glencore had committed to...
22nd November 2012
 
COMMODITIES TRADER

Abu Dhabi's Aabar writes down Glencore stake

A top shareholder in Glencore, Abu Dhabi's Aabar Investments, has written off more $392-million of its $1-billion investment in the commodities trader, less than two years after taking part in its record listing. Aabar, a unit of Abu Dhabi's...
16th November 2012
 
 
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