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E.on: New Corporate Strategy

E.on will focus on renewables, distribution networks, and customer solutions and combine its conventional generation, global energy trading, and exploration and production businesses in a new, independent company (“New Company”), a majority of which will be spun off to E.on SE shareholders. This new organizational setup is the logical consequence of the new strategy that the E.on SE Supervisory Board decided on at its meeting.

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IAMGOLD reduces Executive Team by 40%

IAMGOLD Corporation announced today that in its continuing efforts to maximize economic returns, the Company  has transformed its corporate structure with the primary objective of creating a more efficient and effective organization that embeds agility and scalability through the adoption of leading practices.

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Medusa Mining Limited report: Co-O Mine Review on Course

Medusa Mining Limited, through its Philippine operating company, Philsaga Mining Corporation, advise that the Co-O Mine Review announced on 9 September is progressing well with the results expected to be presented to the Board in mid-November.
Preliminary production guidance details for the full year to 30 June 2015 are tabulated below along with an update on the status of the L8 and E15 shafts.

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BAM: new Structure and Details of Change Programme

  • Good progress on ‘Back in Shape’ programme for cost reduction, project control, working capital improvement and divestments
  • Streamlining operating companies into two business lines Construction and property, and Civil engineering plus BAM PPP
  • Bundling of twelve Dutch operating companies into two: BAM Bouw en vastgoed and BAM Infra
  • Bundling of six Belgian operating companies into BAM Belgium
  • Reduction of approximately 650 FTEs (mainly in the Netherlands, mainly white collar) due to simplified structure and backoffice economies of scale
  • Introduction of Management Committee, composed of Executive Board plus ten managing directors and three directors of service departments
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AngloGold Ashanti: Proposal not to proceed with the Restructuring and Capital Raising

Following the announcement of the proposed corporate restructuring and capital raising on 10 September 2014, AngloGold Ashanti has, as planned, engaged extensively with shareholders holding almost two-thirds of its issued share capital, to solicit feedback on these proposals. The proposed restructuring would create a London-listed entity to house the company’s international assets with the South African assets remaining at AngloGold Ashanti, thus creating two simpler and more focused entities.

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Rio Tinto to review Options in Bougainville Copper Limited

In light of recent developments in Papua New Guinea, including the new mining legislation passed earlier this month by the Autonomous Bougainville Government (ABG), Rio Tinto has decided now is an appropriate time to review all options for its 53.83 per cent stake in Bougainville Copper Limited (BCL).

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RWE continues to focus on Core Business - RWE IT Slovakia sold

  • RWE IT Slovakia sold to global software company FPT
  • 200 new jobs to be created in Kosice, Slovakia

RWE continues to focus on its core business. After the agreement with German software company T-Systems on outsourcing workplace management last September, the Group has now sold RWE IT Slovakia to Vietnamese company FPT Software.

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