Oriel forges alliance with Canadian firm CIBC September 16, 2013 ORIEL Securities has struck a deal with Canadian bank CIBC that will see the stockbroker take a loan from its larger peer and work together on deals. Oriel, which had been the subject of months of takeover rumours, said the arrangement builds on an earlier deal to distribute the London-based broker’s research in North America. [...]
Petrofac signs £75m contract September 16, 2013 PETROFAC, the FTSE 100-listed oil and gas services provider, yesterday said it has signed a $120m (£75.3m) agreement with Petronas, the Malaysian national oil company. Under the five-year deal, which has an option to extend for a further two years, Petrofac will operate and manage two offshore training facilities for Petronas. The agreement follows an [...]
Sirius Minerals falls on further delays to York Potash Project September 16, 2013 AIM-LISTED Sirius Minerals’ share price plummeted almost 20 per cent yesterday after it said it will not submit planning application documents for the York Potash Project until July 2014. The British potash miner had previously planned to start building the project this year, pending approval from the North York Moors National Park Authority. It asked [...]
Ex-Rio chief Tom Albanese joins Vedanta September 16, 2013 TOM ALBANESE has been hired for a senior advisory role at Vedanta Resources, returning to the mining sector after being ousted from Rio Tinto earlier this year. The India-focused resources group said yesterday that Albanese has been hired as chairman of Vedanta Resources Holdings, a subsidiary of the FTSE 100 company. In his new role, [...]
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 [...]
