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The Rio Tinto Ltd. booth on the opening day of the Investing in African Mining Indaba in Cape Town, South Africa, on Monday, Feb. 6, 2023. The world's second-largest miner Rio Tinto said Wednesday it will acquire U.S. lithium producer Arcadium for $6.7 billion. Rio Tinto said the deal would be an all-cash transaction for $5.85 per share, representing a premium of 90% to Arcadium's Oct. 4 closing price of $3.08 per share. If the deal goes through, Rio Tinto will become one of the largest suppliers of lithium, trailing only after Albemarle and SQM. Rio Tinto CEO Jakob Stausholm said the purchase is a "significant step forward in Rio Tinto's long-term strategy, creating a world-class lithium business alongside our leading aluminium and copper operations to supply materials needed for the energy transition."

Persons: Rio, Arcadium, Rio Tinto, Jakob Stausholm Organizations: Rio Tinto Ltd, Rio Tinto, Rio Locations: Cape Town , South Africa, Rio, Rio Tinto's London, Albemarle, SQM, Rio Tinto's

☆ Luyanda Mpahlwa’s pioneering architectural journey fuels social upliftment in South Africa
▼ + stars: | 2023-12-01 | by ( Lauren Lee | ) edition.cnn.com time to read: +7 min

CNN —As a young boy growing up in the 1960s in Mthatha, South Africa, Luyanda Mpahlwa loved to draw houses. Mpahlwa was among the first Black Africans permitted to study architecture in South Africa. “South Africa was in a state of emergency,” he said. There, he earned a master’s degree in architecture from the Technical University of Berlin in 1989 and began working for Pysall.Ruge, a design firm based in what is now the German capital. “The reality is the majority of people of South Africa live in conditions that are actually below what we should be defining as an urban environment,” he said.

Persons: Luyanda Mpahlwa, ”, Mpahlwa, Nelson Mandela, “, Curry, ” Mpahlwa, iThemba, “ We’ve Organizations: CNN, Town, Design Network, South, Radisson, Technical University of Berlin, Pysall.Ruge, Technikon Natal, Durban University of Technology, Embassy, African Institute of Architects, MMA, Department of Basic Education, Design, Lutheran Community Center Locations: Mthatha, South Africa, Robben, ”, Cape Town, “ South Africa, Berlin, Germany, Luyanda, Africa, “, Eastern, Cape Town’s, Kosovo, Philippi Township, Western Cape

☆ U.S. optimistic it will reach critical minerals deal with EU
▼ + stars: | 2023-10-02 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +2 min

REUTERS/Shelley Christians/File Photo Acquire Licensing RightsBRUSSELS, Oct 2 (Reuters) - The United States is optimistic it will conclude an agreement with the European Union to allow critical minerals mined or processed in Europe to qualify for U.S. clean vehicle tax breaks, a senior U.S. official said on Monday. The transatlantic partners are negotiating whether and how EU critical minerals, such as lithium and nickel, can qualify for green subsidies under the U.S. Inflation Reduction Act, which promotes products manufactured in North America. He added there was no plan to tie an agreement on critical minerals to the result of separate transatlantic negotiations to resolve a bilateral dispute over U.S. import tariffs on EU steel. The United States signed a minerals deal with Japan in March. Fernandez also said he was meeting EU officials to discuss an agenda for the next joint Trade and Technology Council, which the United States will host before the end of the year.

Persons: Jose W, Fernandez, Shelley Christians, Jose Fernandez, Philip Blenkinsop, Mark Potter Organizations: United, State, Economic Growth, Energy, Mining, REUTERS, Rights, European Union, U.S, State Department, Japan, EU, Trade, Technology Council, Thomson Locations: United States, Cape Town , South Africa, Rights BRUSSELS, Europe, U.S, North America, Brussels, Britain

Mark Bristow, CEO of Barrick Gold Co. REUTERS/Shelley Christians/File PhotoTORONTO, Aug 8 (Reuters) - Barrick Gold Corp (ABX.TO) is open to bringing in Saudi Arabia's wealth fund as one of its partners in Pakistan's Reko Diq gold and copper mine, Barrick CEO Mark Bristow told Reuters in an interview on Tuesday. Barrick Gold owns a 50% stake in Pakistan's Reko Diq mine, with the remaining 50% owned by the governments of Pakistan and the province of Balochistan. He said that Barrick will support PIF coming into the mine through Pakistan's 25% equity stake. Barrick and Saudi's state-owned mining company Ma'aden jointly operate a copper project in Jeddah.

Persons: Mark Bristow, Shelley Christians, Barrick, Bristow, PIF, Divya Rajagopal, Mark Porter, Conor Humphries Organizations: Barrick Gold , Reuters, Mining, REUTERS, TORONTO, Barrick Gold Corp, Pakistan's, Barrick, Minerals, Barrick Gold, Saudi Arabia's Public Investment Fund, Ma'aden, Thomson Locations: Cape Town , South Africa, Saudi, Pakistan's, Pakistan, Balochistan, Saudi Arabia, Islamabad, Saudi's, Jeddah, PIF, VALE3

☆ Exclusive: Software company Enfusion draws takeover interest from private equity, Irenic Capital
▼ + stars: | 2023-06-26 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

NEW YORK, June 26 (Reuters) - Software company Enfusion Inc (ENFN.N) is attracting takeover interest from private equity firms and strategic buyers, several people familiar with the matter said. Enfusion's management has been approached in recent months by Francisco Partners, Vista Equity Partners and investment firm Irenic Capital Management, said the sources who asked not to be identified because the talks are private. The company has experienced turbulence in the executive ranks, with its chief executive officer and chief financial officer resigning just months apart from one another last year. The name of the private equity partner could not be learned. Irenic, which was co-founded by Elliott Management veteran Adam Katz and former Indaba Capital partner Andy Dodge, recently worked with private equity giant Apollo Global Management to buy industrial parts manufacturer Arconic.

Persons: Irenic, Oleg Movchan, Enfusion, Adam Katz, Andy Dodge, Katz, Dodge, Elliott, Deutsche Boerse, Svea Herbst, Bayliss, Nick Zieminski Organizations: YORK, Enfusion Inc, Francisco Partners, Vista Equity Partners, Irenic Capital Management, Francisco, Elliott Management, Indaba, Apollo Global Management, Arconic, Harvard, Nasdaq, Deutsche, Svea, Thomson Locations: Vista

☆ EXCLUSIVE Hedge fund Irenic asks Capricorn Energy to ditch NewMed deal
▼ + stars: | 2022-10-19 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

The company's stock price closed up 0.25% at 244.60 penceThe NewMed transaction would result in Capricorn being paid a $620 million special dividend. It would also leave them with a 10.3% stake in the combined company, with NewMed shareholders owning 89.7%. A liquidation could value Capricorn's assets at 350 pence per share, versus the 254 pence-per-share valuation in the NewMed deal, according to Irenic. "The company has yet to present shareholders with any proposal that represents superior value relative to the straightforward liquidation value we have assessed," Irenic wrote in the letter. Prior to agreeing on a sale to NewMed, Capricorn scrapped plans to merge with Tullow Oil Plc (TLW.L) in a deal that would have valued Capricorn shares at 210 pence and would have given Capricorn investors 47% of the new entity.

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