Rio Tinto Group will pay as much as $700 million to the government of Guinea to secure development rights to its Simandou iron ore project in the country, the Sydney Morning Herald reported.
Uranium takeovers are on the verge of a comeback that would put companies from Denison Mines Corp. to Fission Uranium Corp. in play.
BHP Billiton Ltd. ’s loan underwriters attracted demand in excess of the $45 billion sought to fund the miner’s bid for Potash Corp. of Saskatchewan Inc. , a person familiar with the situation said.
Ivanhoe Mines Ltd., which owns the $6 billion Oyu Tolgoi copper mine, said it expects a majority of its board will remain independent after its largest investor, Rio Tinto Group, said it may seek to replace directors and managers.
Rio Tinto Group, the world’s second- biggest mining company, rejected a renewed request by Mongolia to renegotiate a 2009 deal over a $6.2 billion mine that Rio plans to start next year.
"The current priority is finalizing the investment framework and for the government of Guinea to secure its financing."
- Illtud Harri on Apr 23, 2013