Business and Finance
Basin Energy Limited (ASX: BSN) has announced a significant expansion of its green energy metals portfolio through the acquisition of a substantial exploration package in Scandinavia. The company has signed a binding agreement to acquire a 100 per cent interest in projects spanning approximately 185 square kilometres across Sweden and…
True North Copper enters voluntary administration, seeks urgent recapitalisation
In a significant development for the Australian mining sector, True North Copper Limited (TNC) has entered voluntary administration. On October 21, 2024, Richard Tucker and Tony Miskiewicz of KordaMentha Restructuring were appointed as voluntary administrators of the company. The administrators are now conducting an urgent assessment of TNC's ongoing operations…
Zenith Minerals secures $1.44m in placement to advance drilling projects
Zenith Minerals Limited (ASX: ZNC) has successfully completed a $1.44 million placement to professional and sophisticated investors, paving the way for accelerated drilling activities at its Dulcie Far North and Red Mountain projects. The placement, priced at $0.045 per share, represents a modest 2.2 per cent discount to the company's…
Zenith Minerals completes sale of Develin Creek Project to QMines
Zenith Minerals Limited (ASX: ZNC) has concluded the sale of its remaining 49 per cent stake in the Develin Creek Copper-Zinc Project to QMines Limited (ASX: QML), marking the end of a two-stage deal initially announced in September 2023. The sale terms include a cash payment of $975,000 (plus GST)…
American Rare Earths secures $456m funding offer for Wyoming Rare Earth project
American Rare Earths Limited (ARR) has announced a significant development in its Halleck Creek Project, with its subsidiary Wyoming Rare (USA) Inc. receiving a non-binding Letter of Interest from the Export-Import Bank of the United States (EXIM) for up to $456 million in debt financing. This potential funding is earmarked…
Mineral Resources secures FIRB approval for Onslow Iron haul road sale
Mineral Resources Limited (ASX: MIN) has announced a significant milestone in its Onslow Iron project, securing unconditional approval from the Foreign Investment Review Board (FIRB) for the sale of a 49 per cent interest in the project's haul road. The deal, struck with investment funds managed by Morgan Stanley Infrastructure…
Anglo American’s Australian coal sale signals key industry trends
The impending sale of Anglo American's Australian coal portfolio is poised to become one of the most significant transactions of 2024, offering crucial insights into the future of steel production and its supporting commodities. This sale is expected to serve as a key indicator of market confidence in the steel…
M Resources completes acquisition of Illawarra Coal Holdings
M Resources has announced the successful completion of the acquisition of Illawarra Coal Holdings Pty Ltd from South32 Limited by GEAR M Illawarra Met Coal Pty Ltd (GM3). This landmark transaction marks a significant milestone for M Resources and its partners. The acquisition includes ownership of a premier coking coal…