Homestake sweetens its bid for Prime

Article Abstract:

Prime Resources Group Inc., a mining company, is considering an acquisition bid valued at C$488 million tendered by Homestake Mining Co., a rival firm headquartered in San Francisco, CA. The offer, which is a 9.6% improvement from Homestake's previous purchase bid, is part of the efforts of the mining firm to gain complete control of the operations of Prime Resources Group. The deal, if consummated, will enable Homestake to capitalize on Prime Resource's highly-touted gold and silver mines in British Columbia as well as allow the firm to consolidate its mining operations in Canada.

Comment:

Is set to acquire Prime Resources Group Inc, a mining co, for C$488 million

Asset sales & divestitures, Acquisitions & mergers, California, British Columbia, Homestake Mining Co., Article, Prime Resources Group Inc.

Aber closer to okay on diamond mine

Article Abstract:

Toronto, Ont.-based Aber Resources Ltd. and United Kingdom's Rio Tinto PLC have received approval from the Northwest Territories' government to operate a new diamond mine. The $1.3 billion mine, which is located near Yellowknife, had received opposition from Native Americans living in the region.

New capacity, new plant construction, Government domestic functions, Gem Diamonds, All Other Nonmetallic Mineral Mining, Miscellaneous nonmetallic minerals, Political aspects, Diamond industry, Diamond mining, Diamonds, Rio Tinto PLC, RTP, Northwest Territories, Aber Resources Ltd., ABERF

Brazilian giant eyeing Noranda

Article Abstract:

Noranda Inc. confirmed that it has reviewed several expressions of interest and the leading contender is Brazil iron ore giant Cia Vale do Rio Doce (CVRD). Noranda has set up a special committee to review the offers and hired CIBC World Markets to act as financial adviser.

Financial management, Metal Mining Services, Support Activities for Metal Mining, Brazil, PRIMARY METAL INDUSTRIES, All Other Metal Ore Mining, Ferroalloy Ores, Chemical & Fertilizer Minerals, Other Nonmetallic Mineral Mining and Quarrying, Company investment, Investments, Noranda Inc., Mineral industry, Company financing, Companhia Vale do Rio Doce S.A.