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Mining News in Mine Exploration, Mining Companies, and Mining Industry. - EMJ

  • Officials at Metso ave rejected a proposed merger by the Weir Group amid concerns of slowed growth; Weir, however, cited a “compelling rationale” and may revise its offer. The agreement, valuing Metso at $5 billion, would have allowed both companies an enhanced global network, generating synergies beyond $415 million, said observers. Weir, under the deal, would have allowed Metso shareholders a 37% stake of the combined entity.

  • Citing corruption, the government of Guinea has canceled permits held by BSG Resources and its joint venture partner, Brazil’s Vale S.A., for their massive Simandou iron ore deposit while canceling their Zogota mining concession.

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