Mauritania granted an iron-mining license to Tazadit Underground Mines Co., a joint venture between China Minmetals Corp. and state-owned Societe Nationale Industrielle et Miniere, Agence Mauritanienne d’Information reported.
China Minmetals Corp., the nation’s biggest state-owned metals trader, said the recent drop in share valuations of global mining companies is throwing up “a lot of opportunities” for potential acquisitions.
HSBC Holdings Plc’s China unit was hired as part of a group of banks to manage a sale of 3 billion yuan of 365-day bonds for China Minmetals Corp., according to a prospectus posted on Chinamoney.com.cn, a website of the China Foreign Exchange Trade System.
The liquidator of Bernard L. Madoff’s firm sued Lion Global Investors Ltd. and at least six other companies to recover at least $172.8 million they allegedly received from investments made with the con man by Fairfield Sentry Ltd.
Glencore Xstrata Plc Chief Executive Officer Ivan Glasenberg said the world’s fourth-biggest mining company remains in talks with China Minmetals Corp. for an asset that’s been valued at more than $5 billion.