Inbox Robot: Swiss Reinsurance News (Free subscription) | 08/17/2008
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Financial Time (Free subscription) | 08/17/2008
The chairman of Lonmin betrays grudging admiration for the chief executive of fellow miner Xstrata, which has made a hostile £5bn takeover approach
The Telegraph (Free subscription) | 08/17/2008
Rival bidders, including South African miner Impala Platinum, are exploring ways to challenge Xstrata's takeover bid for £5bn UK-listed Lonmin.
ziomal.biz (Free subscription) | 08/20/2008
Arcelor Mittal, the world's largest steelmaker, buys Lonmin's Brazilian iron ore assets for $810m.
BBC News (Free subscription) | 08/20/2008
Arcelor Mittal, the world's largest steelmaker, buys Lonmin's Brazilian iron ore assets for $810m.
The Independent (Free subscription) | 5 hours ago
... reports that it was seeking a loan of up to $15bn (£8bn) to fund its planned $10bn hostile bid for Lonmin, the platinum producer which advanced to 3,450p, up 11p. According to the reports, Xstrata planned to use the loan to fund the acquisition and to refinance its own and Lonmin's existing debt. On the downside, Schroders was among the worst performers on the senior index, down 31.5p...
Mail & Guardian (Free subscription) | 08/20/2008
... mining entity, Zim said. Northam will rank fourth behind Anglo Platinum, Impala Platinum and Lonmin in terms of PGM resources. - Sapa
The Telegraph (Free subscription) | 08/20/2008
Xstrata digs deep as falling nickel prices force mine closureBy David LitterickTumbling metal prices have taken their toll on miner Xstrata, which said it was shutting down a nickel mine in the Dominican Republic as the price of the metal continued to fall and oil prices remained high.The diversified miner, headed by chief executive Mick Davis, is in the middle of a bid for platinum group Lonmin,...
Forbes (Free subscription) | 08/19/2008
... down by falling metals prices and its failed 10 billion pound ($18.6 billion) bid for rival Lonmin (other-otc: ). (See "Falcondo was the highest operating cost in Xstrata's portfolio," said Charles Cooper, analyst with Evolution Securities, who recommended buying shares in the miner. He told Forbes.com there was a good chance this would be an isolated incident within Xstrata's portfolio,...
Forbes (Free subscription) | 08/19/2008
... down by falling metals prices and its failed 10 billion-pound ($18.6 billion) bid for rival Lonmin). (See ) "Falcondo was the highest operating cost in Xstrata's portfolio," said Charles Cooper, analyst with Evolution Securities, who recommended buying shares in the miner. He told Forbes.com there was a good chance this would be an isolated incident within Xstrata's portfolio, but said a...
The Telegraph (Free subscription) | 08/17/2008
Credit crisis does not stop a rich seam of deals from being mined12:14am BST 17/08/2008You would expect M&A to dry up in a downturn but, as Ben Harrington explains, the City is seeing some oft-rumoured deals become realityOn the evening of Tuesday August 5, Brad Mills, the chief executive of Lonmin, was in Marikana, a mining complex in the Bushveld region of South Africa, when he received a...
The Telegraph (Free subscription) | 08/18/2008
... commodities, but not both at the same time, effectively ruling out a counterbid for platinum miner Lonmin.
The Telegraph (Free subscription) | 08/15/2008
... that Xstrata is oversold relative to Anglo American, perhaps attributable to its hostile bid for Lonmin. In the mid-cap space, International Ferro Metals and Aquarius Platinum have seen the largest negative share price moves."Xstrata rose 86p to £30.50, Anglo American was 132p higher at £29.23, Lonmin shed 5p to £34.05, IFM was 7½ better at 72¼p and Aquarius was 37 better at 487p....
