New bond issuance could pay for Teck acqusitions, S&P says

Ratings agencies on Friday fixed the ‘BBB’ score to the $1-billion in new bonds Teck Resources sold this week, with Standard & Poor's suggesting the financing flexibility the proceeds provide could go towards acquisitions. Canada’s biggest...

SA unlikely to sustain higher gold production – Fitch

The South African gold industry has seen a slight up tick in production with the continuing upward mars of gold prices mainly buoyed by the weaker dollar, but Fitch Ratings said on Monday that the higher output was "unsustainable". The country's...

Vale prices €750m notes offering

Brazilian miner Vale has priced a €750-million offering of eight-year notes, the company said on Wednesday. The notes, due 2018, will bear a coupon of 4.375% a year, payable annually, at a price of 99.564% of the principal amount.

S Africa electricity tariff hikes unlikely to affect mining ratings – Fitch

Fitch Ratings said on Friday that it did not expect the electricity tariff hikes in South Africa alone to result in any rating changes in the country's mining sector in 2010. "While rising electricity costs are likely to pressure the operating...

Vale sells $1bn in ten-year bonds

Brazil's Vale plans to issue ten-year notes in the global capital markets and will use the proceeds for “general corporate purposes”, the diversified miner said on Tuesday. It did not disclose how much it plans to sell, but Bloomberg News...

Gold likely range-bound in short term – Fitch

The price of gold is not expected to move too much in the short term, at least until the next real shift in global markets, Fitch Ratings said on Wednesday. In a report on the outlook for the yellow metal, Fitch analysts predict that, while the...

Even all-share Xstrata-Anglo merger may be credit negative - Fitch

Even a wholly share-based merger of diversified miners Xstrata and Anglo American may be credit negative, credit agency Fitch Ratings said on Monday. Fitch said that, even though a potential combination of the two companies would offer a variety...

Chilean lawmakers still debating Codelco bill

A law that proposes to restructure the board of Chilean State-owned copper miner Codelco and includes $1-billion in government funds for the company has yet to make its way through the nation's National Congress. The corporate governance bill is...

SA mining output expected to fall further this year – Fitch

The outlook for South Africa’s mining output remained dim, with a recovery in demand and market conditions for commodities not expected to occur before 2011, ratings agency Fitch Ratings reported on Friday. The agency expected the country’s...

Base-metals demand could pick up in H2 – Fitch

Although growth in the global base-metals sector was expected to slow over the next 12 months, ratings agency Fitch Ratings stated that improvement in credit availability and implementation of fiscal stimulus programmes could result in stronger...

SA platinum producer follows sovereign rating action

International ratings agency Fitch Ratings has announced that the ratings and outlook of South African platinum producer Impala Platinum (Implats) are unaffected by the change in South Africa’s sovereign long-term foreign currency issuer default...

Fitch affirms BBB+ rating for acquisitive Impala

International ratings agency Fitch Ratings on Friday affirmed its current ratings for platinum-miner Impala Platinum (Implats), a day after the company announced plans to buy South Africa's Mvelaphanda Resources and rival Northam Platinum for...