Following the collapse of Greensill Capital in March 2021 many expected Sanjeev Gupta’s GFG Alliance metals empire to follow close behind. MetalMiner wasn’t alone in repeatedly questioning the murky financial structure of the sprawling group. Some media outlets suggested it reflected fraud bordering on a ponzi scheme. To most parties’ surprise, GFG has limped on […]
Category: M&A Activity
Week in Review: Lithium-ion batteries; Chinese steel merger; Rio Tinto resumes labor talks at BC Works
Before the weekend, let’s take a look back at the week that was and the metals storylines on MetalMiner: The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies. Week of Aug. 23-27 (lithium-ion battery challenges, Chinese steel merger and much […]
This Morning in Metals: Chinese steelmakers Ansteel, Ben Gang to merge
This morning in metals news: two Chinese steelmakers are merging to form the world’s third-largest steelmaker; the LME aluminum price lost some ground last week; and, lastly, July construction employment continued to lag in the U.S. The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of […]
Week in Review: Shipping sector woes; oil prices fall; Toyota announces production cuts
Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner: Receive the latest short-term and long-term outlook for the full range of industrial metals (base and ferrous) at the annual MetalMiner Forecasting Workshop on Aug. 25. Week of Aug. 16-20 […]
Bangkok-based Banpu to buy Texas power plant
Continuing with its acquisition of the U.S. natural gas assets, the Bangkok-based Banpu has now agreed to purchase a combined cycle gas-fired power plant in Texas. According to Forbes , Banpu, controlled by billionaire Isara Vongkusolkit, will buy the power plant for U.S. $430 million. More MetalMiner is available on LinkedIn. Banpu looks to the […]
This Morning in Metals: Nucor to acquire insulated metal panels business
This morning in metals news: Nucor Corporation today announced it will acquire Cornerstone Building Brands‘ insulated metal panels business; the oil price approached $70 per barrel to close last week; and the aluminum price has retraced over the last month. Each month, MetalMiner hosts a webinar on a specific metals topic. Explore the upcoming webinars […]
ArcelorMittal eyeing Liberty Steel assets in France
ArcelorMittal is eyeing the potential acquisition of Liberty Steel France, which includes a steelmaking plant at Ascoval and rail rolling mill at Hayange, a source within the Luxembourg-headquartered company told MetalMiner. “We were interested last year, when they were available,” the source said. Bids are due for assessment likely in July, the source added. Each […]
This Morning in Metals: Barksdale Resources to acquire Sunnyside copper-lead-zinc-silver project in Arizona
This morning in metals news: Barksdale Resources announced it will acquire 100% of the Sunnyside copper-lead-zinc-silver project in Arizona; meanwhile, Cleveland-Cliffs signs have gone at the former ArcelorMittal Burns Harbor steel mill; and, lastly, the Biden administration has approved the first large-scale offshore wind power project in US waters. The MetalMiner Best Practice Library offers […]
ThyssenKrupp ends talks with Liberty Steel over potential steel unit takeover
ThyssenKrupp has ended discussions with London-based Liberty Steel over the potential sale of the German conglomerate’s steel unit. The parent company made the announcement Wednesday evening, Feb. 17. “We opened the door for negotiations, but in the end our ideas about the corporate value and the structure of the transaction were far apart,” ThyssenKrupp Chief […]
ArcelorMittal steel output drops by one-fifth in 2020
Impacts from the COVID pandemic and asset sales saw ArcelorMittal report a 20.4% decline in its crude steel production in 2020. “The countries worst affected by COVID were the ones that saw drops in their production,” one industry watcher added about lower production at the group’s assets in Europe, Brazil and the United States. ArcelorMittal […]
