Anglo American takes $300m hit to exit Pebble September 16, 2013 MINING group Anglo American has pulled out of the Pebble copper-gold project in Alaska, less than two months after pledging to halve a $17bn (£10.7bn) pipeline of potential mines and bring down the cost of keeping future options open. The decision, announced yesterday, leaves junior exploration company Northern Dynasty to push ahead alone with the [...]
Bridge Energy spurts on Spike takeover offer September 16, 2013 ABERDEEN-BASED oil and gas explorer Bridge Energy’s shares skyrocketed yesterday, after the board said it would recommend a £103m takeover offer from Norway’s Spike Exploration to its shareholders. The Aim-listed firm, which holds several licences in the UK North Sea, said that shareholders representing a 62 per cent stake in the company had already pre-accepted [...]
Petra Diamonds digs deep to post sparkling full-year results September 16, 2013 AIM-LISTED miner Petra Diamonds yesterday posted a 27 per cent increase in full-year revenue and a 21 per cent rise in production, boosted by demand from the growing middle classes in emerging markets. The company reported profit of $27.9m (£17.5m) this year, compared to a $2.1m loss last year. Revenue rose to $402.7m over the [...]
Africa Oilfield’s Ardan signs deal September 16, 2013 Africa Oilfield Logistics, the Aim-listed investment firm founded by businessman and ex-England cricketer Phil Edmonds, yesterday said its subsidiary Ardan Risk & Support Services has signed a contract with New York-listed engineering services provider Global Geophysical Services. Ardan will supply a support camp and medical facility for Global’s seismic programme in Kenya, which is expected [...]
EMED to restart project by year-end September 16, 2013 Europe-based minerals explorer EMED Mining yesterday said it is confident that its two regulatory permits will be issued by the end of the year, so that it can restart its work at the Rio Tinto copper project in Spain – which it fully owns – by early 2015. The ownership of all the project assets [...]
Bumi to separate by December September 16, 2013 Progress was made in the Bumi saga yesterday when the scandal-ridden miner said that it plans to issue a circular to shareholders next month regarding the company’s separation the Bakrie Group, with completion to occur by the end of November. A circular was scheduled to be sent round to shareholders in September but last week [...]
KPN irons out E-Plus disposal plan with a tax loss of €3.7bn September 16, 2013 DUTCH telecoms group KPN has struck a deal with Dutch tax authorities to book a loss of about €3.7bn (£3.1bn) on the sale of German unit E-Plus, which it can offset against taxable income in coming years to reduce its tax bill. KPN, the subject of a takeover bid from Carlos Slim’s America Movil, said [...]
Long standing UBM chief plans to stand down September 16, 2013 THE CHIEF executive of events and information group UBM, David Levin, will step down from his post at the end of July 2014. “I feel that it is the right time to look for my next challenge. I look forward to the future and, in the meantime, it is business as usual,” Levin said in [...]
Viewership up for UKTV group September 16, 2013 UKTV, owners of the Dave television channel, reported annual profits of £71m on £262m revenue yesterday. Viewership figures for the network’s channels increased 10 per cent from 2011’s figures, leading to the growth in advertising revenue. “We are committed to building our core channels business, but we are also investing in important new routes to [...]
Flybe clears out top staff September 16, 2013 FLYBE has dispatched with three senior managers as part of its efforts to streamline the business. The loss-making airline, which has already replaced its chief executive and sold its landing slots at Gatwick, said Andrew Strong, managing director of Flybe UK, Mike Rutter, managing director of Flybe Outsourcing Solutions and Mark Chown, director of corporate [...]
