Glencore to acquire 77% stake in Teck’s steelmaking coal business for $6.9bn

Glencore to acquire 77% stake in Teck’s steelmaking coal business for $6.9bn

Glencore plc has announced its binding agreement with Teck Resources Limited for the acquisition of a 77% effective interest in Teck’s steelmaking coal business, Elk Valley Resources (EVR), for a substantial sum of US$6.93 billion in cash. This transaction is set to bolster Glencore’s position in the coal industry, marking a pivotal moment in their […]

Appian Capital to sell Brazilian battery metal companies to ACG for $1bn

Appian Capital to sell Brazilian battery metal companies to ACG for $1bn

Appian Capital Advisory, an investment advisor to long-term value-driven private capital funds that invest in mining companies, has announced it is selling its Brazilian battery metals-focused portfolio companies, Atlantic Nickel and Mineração Vale Verde (MVV) to ACG Acquisition Company. The transaction amounts to a cash consideration of $1 billion, along with a sale of Appian […]

Ørsted to sell LNG business to Swiss natural resources company Glencore

Ørsted to sell LNG business to Swiss natural resources company Glencore

Danish power company Ørsted has agreed to sell its liquefied natural gas business (LNG business), comprising of the long-term regasification capacity agreement with the Gate Terminal and five LNG purchase agreements, to Swiss natural resources company Glencore. As per the agreement, Glencore will have to replace various contracts with new ones. Ørsted holds the right […]