diamondinvesting
Lucapa Diamond Company (ASX:LOM) has announced a strategic decision to divest its 70 percent stake in the Mothae mine in Lesotho as part of a broader plan to streamline its operations and focus on core assets. The Tuesday (May 15) decision comes after the release of the company's first quarter production and sales report at the end of April. In it, Lucapa outlines both achievements and challenges across its diamond operations. In Q1, the company’s Lulo mine in Angola sold 8,746 carats, generating US$9.4 million in revenue. While there were no exceptional diamond tenders during the quarter, a t...
Investing News Network
Anglo American (LSE:AAL,OTCQX:AAUKF) announced plans to divest its De Beers diamond business as it moves to restructure in the face of a takeover bid from rival miner BHP (ASX:BHP,LSE:BHP,NYSE:BHP). In a Tuesday (May 14) press release, the company said it wants to streamline its operations and focus on high-demand sectors such as copper, iron ore and crop nutrients, creating what it believes is a "future-enabling portfolio." The move comes after Anglo’s rejection of BHP’s US$38.8 billion bid in late April. If it had gone through, it would have been one of the resource industry's largest merger...
Investing News Network
London-based Anglo American (LSE:AAL,OTCQX:AAUKF) has rejected mining behemoth BHP's (ASX:BHP,LSE:BHP,NYSE:BHP) US$38.8 billion bid to acquire the company. "The BHP proposal is opportunistic and fails to value Anglo American's prospects, while significantly diluting the relative value upside participation of Anglo American's shareholders relative to BHP's shareholders," said Anglo Chairman Stuart Chambers in a Friday (April 26) statement. BHP's offer for the company was made public on Thursday (April 25). The proposal, whose aim is to create the world's largest copper miner while divesting Ang...
Investing News Network
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