Joy Global, one of the world’s leading heavy-equipment mining companies, will take over China-Based International Mining Machinery Holdings Ltd.

According to a statement released on Thursday, Joy Global will purchase 534.8 million shares of IMM for HKD 8.50 a share representing 41% of the company. Total cost will be USD$538 million. Subject to regulations, Joy ... Read More

Shares in JSE-listed Metorex climbed by nearly 7% on Tuesday, after the base metals miner a higher competitive offer to the one received from Brazil Vale from Chinese company Jinchuan.

Jinchuan put in a bid of R8.90 for every Metorex share, or R9.1-billion, topping Vale’s offer of R7.35 a share, or R7.5-billion.

The offer comes only two weeks before Metorex shareholders were meant to vote on the Vale acquisitions.

Metorex ... Read More

Nuinsco Resources and Ocean Partners have received approval from the Quebec Superior Court in Canada to acquire all exploration, mining and processing assets previously owned by Les Ressources Campbell and Ressources MSV.

The assets comprise seven mines located near Chibougamau, Quebec.

The assets also include two development-stage properties - Symons cone crusher Corner Bay and the Dore Lake Ramp - an operational 3,000t/day mill and a permitt ... Read More

Mining solutions provider Joy Global has completed the acquisition of LeTourneau Technologies for $1.1bn in cash.

Joy Global concluded the transaction with Rowan Companies, a provider of international and domestic contract drilling services.

LeTourneau is a manufacturer of large capacity wheel loaders for the surface mining market, as well as jack-up rigs and ancilliary equipment mobile jaw crusher for the oil and gas drilling industries.

... Read More

Hwange Coal Mine will be the first Zimbabwean company to export coking coal to India, mainly targeting its vast steelmaking industry, Platts reported.

Hwange is expected to export about 20,000 tonnes of coking coal Belt conveyors from Hwange's processing plant to India in Jun, as part of the company's export drive, the company said.

The tonnage will be moved on a monthly basis during the first four months and will be i ... Read More