Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (10497)	3/11/2016 9:04:42 AM
From: Goose94	Respond to of 202784

Desperation is high among indebted industrial metal producers. Vale, Freeport-McMoRan, Glencore and Anglo American are all planning to divest dozens of mines in a dash to raise cash, providing a smorgasbord of assets for potential buyers. Vale, the Brazilian iron-ore giant, is swimming in $25-billion of debt and aims to reduce it by $10-billion (all figures U.S.). U.S.-based Freeport plans to halve its $20-billion debt load. London-based Anglo American is trying to sell 29 mines. The pool of serious buyers is small. Most mining companies are focused on preserving their balance sheets with copper, nickel, iron ore and other commodities in the dumps. The likes of Osisko Gold Royalties and Silver Wheaton are few and far between, and resource-focused private-equity firms have relatively small pots of cash. Still, Franco-Nevada and Kinross both raised big money this year. For top mines such as Barrick's Chilean copper mine, more than 20 buyers inquired but most were quickly weeded out. Message 29834627 Message 29834985