Osprey Capital Partners Inc. hired Paris Aden, a former mergers-and-acquisitions director at Royal Bank of Canada’s RBC Capital Markets unit, as a partner, according to Vlaad & Co., a Toronto-based financial services recruiting firm.
Goldcorp Inc., the second-largest gold producer by market value, reported first-quarter earnings that trailed analysts’ estimates as production declined at a Canadian mine. The shares fell the most in more than two years.
Quadra FNX Mining Ltd. is poised to secure the largest takeover price increase in North America as the cheapest copper bid on record leaves room for Vale SA or Antofagasta Plc to make a competing offer.
KGHM Polska Miedz SA, the copper miner with the largest European output, agreed to buy Canada’s Quadra FNX Mining Ltd. for about C$2.87 billion ($2.84 billion) in the largest overseas acquisition by a Polish company.
The 10 biggest gold companies led by Barrick Gold Corp. spent more than $100 billion in the past 20 years buying new mines and projects around the globe. Now they’re feeling pressure to throw the strategy into reverse.
Barrick Gold Corp., the world’s biggest producer of the metal, said the estimated cost of building a mine in the Andes may jump to about $8 billion because the project is more complex than it had anticipated.
Inmet Mining Corp., owner of the world’s second-biggest undeveloped copper deposit, is forecast by investors and analysts to attract rival takeover offers after it rejected a C$4.86 billion ($4.89 billion) bid from First Quantum Minerals Ltd.
Lundin Mining Corp., which lost almost half its value after spurning two takeover bids, now needs an acquirer willing to pay the biggest premium for a diversified minerals deal to make shareholders whole again.
Barrick Gold Corp.’s agreement to buy Equinox Minerals Ltd. for the most expensive valuation in a copper mining takeover still isn’t high enough, according to traders who profit from mergers and acquisitions.