KAZ Minerals PLC (LON:KAZ) received a higher recommended offer from a consortium led by two of its directors, valuing the Kazakh copper producer at around £4.1bn, as they seek to take the company back into private hands.
Chairman Oleg Novachuk and president Vladimir Kim increased their final cash offer to 850 pence per share, together with a special dividend equal to 27 US cents per share, taking the total offer to about 869p per share.
“Copper market dynamics have evolved since the announcement of the original offer in October 2020, and the final increased offer fully reflects this change,” said Novachuk
The two directors, who together already hold 39.36% of KAZ Minerals, originally bid 640p a share in October, before raising this to 780p a share last month.
Jubilee Metals Group Plc (LON:JLP) posted a four-fold jump in interim pretax profit on higher PGM production and prices and said it expected 2021 to be another transformational year. Pretax profit surged to £24.4mln in the six months to end December, from £6.6mln in the year-earlier period, as revenue more than doubled to £53.4mln. Attributable earnings for the six-month period soared 212% to a record £30.9mln.
Rio Tinto PLC (LON:RIO)(ASX:RIO) is planning a series of seminars to outline how it is working in partnership with what it terms “traditional owners”. The aim is to improve the company’s approach to cultural heritage and community relations after its recent decision to dynamite a major cultural heritage site in Australia.
Emmerson PLC (LON:EML) said it has applied for admission to trading on the AIM market of the London Stock Exchange and cancel its listing on the standard segment of the exchange’s main market. The potash development firm said the cancellation is expected to be effective at 8am on April 27, while its AIM admission is anticipated to begin at the same time.
Glencore PLC (LON:GLEN) said incoming chief executive Gary Nagle, head of coal assets at the mining and commodity trading giant, will take over the role of CEO from July 1 after incumbent Ivan Glasenberg retires on June 30.
Caledonia Mining Corporation PLC (LON:CMCL, NYSE:CMCL) posted higher underlying profit for 2020 on record production and higher gold prices.
EQTEC PLC (LON:EQT) and MetalNRG PLC (LON:MNRG) signed a framework partnership agreement to develop sustainable green energy projects. In an announcement, MetalNRG, a natural resource investing and exploration firm, said it set up a Special Purpose Vehicle (SPV), MetalNRG Eco Ltd, to develop biomass, waste to energy projects in the UK.
Panthera Resources PLC (LON:PAT) said it had fast-tracked the next phase of exploration at its Bassala gold project in Mali after positive results from a completed soil sampling programme. The next stage, which will see an induced polarisation (IP) survey undertaken, will start this week.
Tirupati Graphite PLC (LON:TGR) has appointed a world-leading graphene scientist and mineral processing technology expert, Dr S. K. Biswal, and strengthened its team across its three business units to support the company’s rapid growth.
Oriole Resources PLC (LON:ORR) said it is extremely well placed for 2021 with active drilling campaigns at its core projects in Cameroon and Senegal as well as at its investment projects in Djibouti and Turkey.
Alien Metals Ltd (LON:UFO) set out a details of the programme of work it intends to undertake in the coming months across its extensive portfolio of exploration and development projects. The planned work includes field mapping and verification of new and historic targets on the Elizabeth Hill silver project in Australia, which includes the Munni Munni North licence.