First Majestic is making inroads for its silver expansion mission in Mexico with a confirmation it has inked a definitive merger agreement with Gatos Silver. Gatos has a 70% interest in the Los Gatos joint venture, which owns the producing Cerro Los Gatos underground silver mine in Chihuahua, Mexico. The proposed transaction implies a total equity value for Gatos of…
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Rumors of merger untrue: Metso
Metso has denied recent reports of a merger between it and the mining business of Sandvik, releasing a statement confirming its position on August 19. The initial report alleging a tie-in between it and the Swedish equipment producer came from Swedish news outlet Dagens Industri. “Market rumors have been made public regarding Metso and Swedish Sandvik’s mining business. Metso has…
Read MoreGoodyear to sell off-the-road tire unit to Yokohama
U.S.-based Goodyear Tire & Rubber Co. has signed a definitive agreement to sell its off-the-road (OTR) tire business to the Yokohama Rubber Co. for $905 million in cash. The transaction follows a previously announced strategic review of the OTR tire business in connection with the Goodyear Forward transformation plan. “The sale of the OTR business marks an important milestone as…
Read MoreMintak retiring, Park taking over at Standard Lithium
September 1 will be a day of transition for the executive cabinet at Canadian miner Standard Lithium: it is the effective date of the retirement of CEO Robert Mintak and the start date for his replacement, David Park. In a transition that it said aligns with the company’s growth strategy and next steps in value creation, Standard confirmed Mintak will…
Read MoreGold Fields buys Osisko Mining
South African-based Gold Fields has agreed to acquire Canadian miner Osisko Mining for C$2.16 billion ($1.57 billion), reported Reuters. The cash deal will help Gold Fields expand its presence in the Americas region, where it already has mines in Chile and Peru. Gold Fields said Osisko’s projects in Quebec would also help it “firmly solidify” its footprint in one of…
Read MoreGlencore foregoes coal spinoff
Glencore said it will not spin off its coal business after securing backing from the majority of its investors, according to Reuters. The miner had been debating on whether to keep the coal assets or spin them off after it purchased the majority of Teck Resources’ steelmaking coal business in July. Retaining the coal assets “offers the lowest risk pathway…
Read MoreVale selects Pimenta as CEO
Vale recently announced Gustavo Pimenta as the company’s next CEO. The executive was unanimously elected by the board of directors, after a rigorous selection process supported by an international headhunting company, in compliance with Vale’s bylaws, corporate policies, the board’s internal regulations and applicable legislation. Pimenta is an executive with global experience in the financial, energy and mining sectors, and…
Read MoreClarke steps down at American Lithium
American Lithium has announced the resignation of Simon Clarke as chief executive officer and director of the company, effective September 1. Alex Tsakumis, who has served on the board of directors since 2022, will assume the role of Interim CEO. The miner said Clarke was stepping down to pursue other interests but will continue to assist the company in an…
Read MoreEquinox Gold celebrates Greenstone opening
Equinox Gold held an official opening of its Greenstone gold mine in Geraldton, Ontario, Canada, on August 29, which included remarks from the mine’s Indigenous Partners, government dignitaries and Equinox Gold’s leadership team. “Today is a pivotal milestone for Equinox Gold. After almost three years of construction and commissioning the Greenstone mine is now a reality and will be a…
Read MoreEndeavour processing restarts at Guanacevi
Endeavour Silver has resumed processing at the Guanacevi mine in Mexico following a primary ball mill trunnion failure on August 12. The company said temporary modifications have allowed the regrind mill to function as the primary ball mill, currently milling at 400 tonnes per day, with potential for 500 t/d, about half of its planned production capacity of 1,200 t/d.…
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