The offer from Australian billionaire Gina Rinehart's Hancock Prospecting values Atlas shares at 17% more than price reached at Friday close.
Australia Mining News
A week choc-a-bloc with billion dollar copper, iron ore and cobalt deals ends with huge drop in prices and sell-off in stocks of mining's biggest names.
A national coordinated approach to climate and energy policy is needed which recognises the energy and resource-intensive nature of the Australian economy.
Deal would have added two lithium projects – the Big Sandy lithium clay project in Arizona and the Lordsburg lithium brine project in New Mexico – to Hawkstone’s portfolio.
BHP building $3.4B mine amid surging lump premiums, high-grade fines prices up 30% in a year, is latest indicator iron ore is once again a mining cash cow.
China is home to the majority of the world's lithium processing facilities and sucks up most output of top producer Australia.
ERAMET said it would pay A$322 million for the shares it did not already own in the company.
The contract with the two units of the world's fourth-largest iron ore miner will last until December 2023
There may be a slight problem with the prevailing theme for the iron ore market this year, namely that China is increasingly interested in using higher-grade ore as part of efforts to boost output and lower per unit pollution.
Major miner Rio Tinto named Jacob Stausholm to replace outgoing financial boss Chris Lynch when he retires in September.
Iron ore shipments from the world's biggest export terminal rose to 45 million tonnes in May from 42.6 million tonnes in the previous month.
The union at the world's largest copper mine said BHP has promised to respond to its recent proposal for a new contract by 3 pm local time on Monday.
The strong role uranium plays in supporting first world medical practices in Australia was also explored at the conference.
The battery cell maker is working on the first section of the factory, in Skellefteå in the north of Sweden, which will be completed in 2020 and produce eight gigawatt cell capacity per year.
Move comes a day after Fortescue Metals said it had built a stake in Atlas large enough to block a takeover.
Fortescue said it had agreed to buy a 15 percent stake in Atlas at A$0.04 per share, or A$55.7 million.
The companies are committed to explore for mineral deposits first in the Asian country and then the rest of the world .
The takeover offer, which expires next week, offers great exploration potential because Avanco owns a vast landholding in the copper and iron ore-rich Carajás region, second only to giant Vale.
The country's car industry currently employs about 840,000 people, with 210,000 of them working on powertrain production, the sub-sector set to be the worst hit.
The CEO of Fortescue Metals Group said that the company is working towards finding other commodities to mine.
As soon as the sale was completed, Rio received $150 million in cash and is set to get an unconditional cash payment of $50 million due in 12 months.
Under the planned $2.25 billion transaction, Adaro will take a 48 percent stake of Rio's current 80 percent interest in the mine.
Anglo American Plc is set to boost metallurgical coal capacity at a mine complex in Australia by 25 percent.
The South African gold producer is setting aside pursuit of new acquisitions for a year as it focuses on its existing operations and nearby prospects instead, the bullion producer's chief executive told Reuters late on Tuesday.
The number of electric cars, including battery-electric, plug-in hybrid electric and fuel cell electric passenger light-duty vehicles, increased by 57% in 2017 from the previous year.