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06.05.2021 (398 Clicks)

QRC welcomes Federal Government's Plan for Growth in the North

The Queensland Resources Council (QRC) has welcomed the announcement from Federal Minister Keith Pitt of a new five-year, $190 million investment plan for Northern Australia.

05.05.2021 (426 Clicks)

Railway Line moved to make Way for Metro

A major Sydney railway line has been picked up and moved in just 48 hours, to make way for the brand new Sydney Metro.

05.05.2021 (381 Clicks)

Keliber receives additional Funding for Developing a Sustainable Battery Value Chain

Keliber has received a positive decision from Business Finland regarding the Autumn IPCEI funding, a grant approved by the European Commission. Keliber will receive EUR 550,000 for a project that promotes the sustainable development of the battery value chain, circular economy and responsible production.

04.05.2021 (427 Clicks)

Vale started Vargem Grande Complex Filtration Plant Operation

Vale informs that it has gradually started the operation of the tailings filtration plant located at the Vargem Grande Complex, the first of four filtration plants to be operated in Vale's sites in Minas Gerais, totaling US$ 2.3 billion in investments between 2020 and 2024.

04.05.2021 (673 Clicks)

K+S closes Sale of Americas Salt Business to Stone Canyon Industries Holdings, Mark Demetree and Partners

K+S Aktiengesellschaft completed the sale of its Americas salt business consolidated in the Operating Unit Americas to Stone Canyon Industries Holdings LLC ("SCIH"), Mark Demetree and partners.

The enterprise value amounts to USD 3.2 billion corresponding to 13.4 times the 2020 EBITDA of USD 239 million. Taking into account debt and cash, the purchase price is now approximately EUR 2.6 billion. This payment has been made today entirely in cash.

“With the completion of the sale of the Americas operating unit and the payment of the purchase price, we are taking a major step towards the reduction of our debt,” says Dr. Burkhard Lohr, Chairman of the Board of Executive Directors of K+S AG. “I sincerely would like to thank all employees of the Americas for their many years of successful cooperation. I wish the entire team as well as the new owner Stone Canyon all the best and great success for the future!”

Milestone for significant reduction in financial liabilities

With the sale of the Operating Unit Americas, K+S has implemented the most important component of the package of measures announced in December 2019. This is an important milestone in the planned reduction of debt. The net proceeds equivalent to around €2.6 billion will be entirely used to successively reduce debt. Accordingly, the level of debt (net financial debt/EBITDA) will improve significantly.

The Operating Unit Americas mainly comprises K+S Chile, acquired in 2006 and formerly known as SPL, and Morton Salt (USA), acquired in 2009, as well as Windsor Salt Ltd. (Canada).

Source: K+S

                     

04.05.2021 (572 Clicks)

Sydney Metro's Station at Waterloo – Building goes forward

Two tower cranes have been installed to help build the new metro station at Waterloo.

03.05.2021 (567 Clicks)

Implenia to build one of the World’s deepest Metro Stations

Stockholm Region and Implenia have signed a contract for construction of the new “Sofia” metro station and associated tunnels in Stockholm | The order is worth SEK 1 billion (approximately CHF 110 million)

01.05.2021 (693 Clicks)

Advance Record at the Brenner Base Tunnel

The miners in the Brenner Base Tunnel are pushing ahead rapidly with the major rail project. On Wednesday, March 31, 2021, they achieved a new record while excavating the main tubes in South Tyrol: 860 m of tunnel bored and lined in one month.

30.04.2021 (472 Clicks)

PAUS North America Inc. established

PAUS GmbH, well-known manufacturer of specialized underground mining equipment has expanded its network: Effective April 1, PAUS North America Inc. was found in Walton Hills, OH.

29.04.2021 (442 Clicks)

Cimic’s Leighton Asia and Broad Construction secure $100M in Project Wins

Cimic Group’s construction companies, Leighton Asia, and wholly owned subsidiary of CPB Contractors, Broad Construction (Broad), have further extended their presence in Singapore and Western Australia respectively with the award of contracts totalling approximately $100 million in revenue.