trending Market Intelligence /marketintelligence/en/news-insights/trending/c0puE6B4mq7pg0o21UxqMQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Takeovers Panel allows Energy Resources of Australia's A$476M offering

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020

Takeovers Panel allows Energy Resources of Australia's A$476M offering

The review panel of the Australian Takeovers Panel canceled the order prohibiting Rio Tinto from compulsorily acquiring shares in Energy Resources of Australia Ltd. noting that the orders "would be unfairly prejudicial to Rio Tinto."

The panel added that Energy Resources needs to disclose to its shareholders Rio Tinto's intentions regarding compulsory acquisition if the latter becomes a 90% shareholder, following the former's A$476 million entitlement offer and underwriting agreement.

The review panel also affirmed the initial panel's decision to make a declaration of unacceptable circumstances.

The timetable for the entitlement offer was extended by the review panel by 15 business days, with closing now scheduled for Feb. 18.

Rio Tinto filed an appeal after the Australian Takeovers Panel blocked the offer for at least 20 days, noting that the mining giant's possible takeover could hurt minority shareholders.

Energy Resources of Australia was offering 6.13 new shares for every existing share to fund rehabilitation costs for the Ranger uranium project in Australia's Northern Territory, which ballooned to A$830 million in February 2019 from A$512 million in December 2017.