There is a substantial and apparently unfriendly takeover bid underway on the Australian bourse involving two chief executives with strong New Zealand links.
December quarter equity production for Rio Tinto from the Tiwai Point aluminium smelter was marginally better than in the September quarter but there should be a lift in the March quarter with the reactivation of a potline.
The board of iron ore hopeful Flinders Mines, controlled by New Zealand Todd family, has been forced to delay a shareholders meeting on a proposal to delist the company.
The pioneering seabed miner Nautilus Minerals, which has strong Kiwi connections, has gained a fresh loan from its two major shareholders and is looking at optional forms for financing issues.
Minority shareholders are unhappy with the terms offered for the delisting of aspiring Western Australian iron ore miner Flinders Mines.
Energy & Resources Minister Megan Woods has told miners it was keen to see NZ get into finding battery metals, but with many access doors already shut that is hard, particularly following a sobering report from a London stockbroker.
Nautilus Minerals which has been receiving loans from a company linked to its two major shareholders has been given a time extension on a loan while looking for new funding to complete its seabed mining project.
The Todd-family controlled Flinders Mines has announced plans to delist on the ASX and the company has sent its offer to minority shareholders holding unmarketable parcels of shares.
The Australian company, controlled by New Zealand’s Todd family which has a multi-billion dollar quest to start an iron mine in Western Australia, now plans to delist from the Australian bourse.
Nautilus Minerals has taken up another loan from a finance company linked to its two key shareholders as it advances towards a seafloor massive sulphides deposit in Papua New Guinea waters.