Fitch Ratings
MINING FINANCE
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...By: Matthew Hill
18th February 2012
GOLD PRODUCTION
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...By: Loni Prinsloo
18th October 2010
BRAZIL
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.By: Liezel Hill
17th March 2010
MINING RATINGS
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...By: Loni Prinsloo
26th February 2010
DEBT
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...By: Liezel Hill
8th September 2009
GOLD
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...
By: Liezel Hill
2nd September 2009
CORPORATE ACTIVITY
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...
By: Martin Creamer
29th June 2009
COPPER
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...11th June 2009
MINING PRODUCTION
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...15th May 2009
BASE METALS
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...
6th January 2009
Impala Platinum
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...By: Liam Morrison
12th December 2008
CREDIT RATINGS
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...By: Liezel Hill
3rd October 2008
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