Marius Pantea’s Post

💡 How a shake-up could unlock $40b for Rio Tinto investors Well done on this effort Ray David, Joseph Koh and David Meehan. 📈 And thank you to the The Australian Financial Review for a great, well written article. Please read more below, and follow the link to the full article. "BHP cleaned up its outdated corporate structure and can now do things like bid for Anglo American. There is pressure building on Rio Tinto to consider doing the same. There’s an investor push building at Rio Tinto; you can feel it. The miner makes most of its earnings in Australia’s Pilbara. It has made significant steps to improve relationships with government, traditional owners, employees and even shareholders since the Juukan Gorge and workplace culture undoings. But there’s a lot more work to be done." Follow the link below 👇 👇 👇 https://lnkd.in/gYQGH5Xa #Blackwattle #Quality #Investing

How can multinational corporations adapt to diverse legal and compliance landscapes while maintaining high ethical standards? Geoff David, General Counsel, Minerals Rio Tinto explores this pressing question in the most recent interview of our Corporate Counsel Insights series: https://lnkd.in/gfftVnCX

Via Alfred Olufemi: Since the government took over, there have been concerns over the future of the mines and the need for a strategic equity partner. For instance, the mine’s output declined in the first half of 2023 and its losses worsened to $196 million in the six months through June—much more than the $120 million loss it incurred in the period prior. But according to the details of the new agreement with IRH’s, the investment includes a $620 million private equity to provide working capital for the mine’s operations and a $400 million loan to settle existing debt obligations. https://lnkd.in/gsMWKZPT

🤝 𝗪𝗲𝗲𝗸𝗹𝘆 𝗪𝗿𝗮𝗽 𝗼𝗳 𝗠&𝗔 𝗱𝗲𝗮𝗹𝘀 🤝 Pilbara Minerals Limited is buying Latin Resources Limited to increase its lithium resources by 20%. Vocus and TPG Telecom are in advanced talks for the sale of TPG's non-mobile fibre assets, with price being a major point of negotiation. Commonwealth Bank is selling its ultra-high-net-worth advice business, Commonwealth Private Advice, as part of its effort to streamline its wealth operations. Genesis Energy will buy a new solar development from Helios Energy and take all the energy produced. Magellan Financial Group acquired a 29.5% stake in Vinva Investment Management for $138.5m, forming a strategic partnership amid a decline in its funds under management. Mark Arena acquired a majority stake in the Perth Wildcats for $21m. Three bidders for Healius Limited's diagnostic imaging unit are submitting final offers this week, though it's unclear if the $700m price target will be met. Indian firm Exicom buys bankrupt Australian EV charger maker Tritium® for $45m. Sims Limited has sold $435m in assets, including its UK metal recycling business and a stake in Closed Loop Partners Circular Services, to boost shareholder returns amid challenging economic conditions. Albemarle Corporation may sell its 49% stake in the Greenbushes lithium mine to IGO Ltd, following recent job cuts and facility closures. Fletcher Building is selling Tradelink to Metals Manufacturers, a subsidiary of Blackfriars Corporation, for $150m to $175m. Barrenjoey and Morgan Stanley will soon launch the sale of Aveo, aiming for $3bn. Get a full round-up of the day’s deals in your inbox each morning — sign up at letterofintent.com.au

In case you missed it in the Sunday Guardian: "e TecK continues diversification efforts." Read this article to learn more about e TecK's role in T&T's diversification drive!

In Macquarie Infrastructure Corp. v. Moab Partners, the U.S. Supreme Court recently resolved a split among U.S. Circuit Courts of Appeal when it unanimously held that a “pure omission”—failing to disclose information in the absence of an inaccurate, incomplete, or misleading statement—cannot support a private right of action under the U.S. securities law anti-fraud provisions, Section 10(b) of the Securities and Exchange Act of 1934 and its implementing regulation, Securities and Exchange Commission Rule 10b-5(b). The case background: Macquarie Infrastructure Corporation operates terminals to store bulk liquid commodities, including No. 6 fuel oil, which contains a sulfur content close to 3%. In 2016, the United Nations International Maritime Organization adopted IMO 2020, which capped the sulfur content of fuel oil used in shipping at 0.5%. Macquarie never disclosed the provisions or its potential impact in its public offering documents in the following years. In February 2018, however, Macquarie announced a drop in demand for fuel storage at its subsidiary, in part, due to IMO 2020’s impact. As a result, Macquarie’s stock price dropped 41%, with investors Moab Partners, L.P. suing Macquarie alleging Macquarie violated Section 10(b) of the Securities and Exchange Act of 1934 (1934 Act), and its implementing regulation, SEC Rule 10b-5(b). Moab argued Macquarie’s public statements were false and misleading given it hid from investors that No. 6 fuel oil would be significantly—and negatively—impacted by IMO 2020. The District Court dismissed Moab’s complaint, but the U.S. Supreme Court issued a unanimous opinion vacating and remanding the Second Circuit’s decision, holding simply that pure omissions are not actionable under Rule 10b-5(b). Read the full details and how the ruling compares to Canadian case law: https://bit.ly/3QmcuCb #litigation #disputeresolution #capitalmarkets #boardadvisory #governance Erica Goldman | Andrew Gray | Glen Johnson

As widely reported, BHP Group (US$150bn market cap) recently made an all-share offer for peer, Anglo American (US$36bn market cap). In this Daily Investor article, Sameer Singh, Research Analyst at Private Clients by Old Mutual Wealth, shares his view on the rationale for the deal and while Anglo subsequently rejected the offer, Sameer believes that we are likely to see increasing interest in Anglo American from other potential suitors. Read more: https://lnkd.in/d4NdPDH7 #oldmutualwealth #privateclient #curatedwealth #beyondwealth #PrivateClientsbyOldMutualWealth

Wonder how much of this is due to firms inability to remit profits due to foreign currency rationing since 2014. If it is, even more reason to find a solution now so dividend withholding tax can make a larger contribution to government’s consolidated revenue.

Congrats and Well Done Dear:: Shell Corporation of Earth; and, Always Union Strong Forever. Shell is a CCS/CCUS/CCC Global Leader. That I worked with in 2002 as a Provincial Progressive Conservative under The Great Ralph Klein Alberta Government. The Shell Project was the First Non-Military CCS/CCUS/CCC Canadian Installation in Fort Saskatchewan, Alberta; Canada just Twenty Minutes from Alberta's Capital City of Edmonton. The Klein-Chretien Funded and Backed Project was the Perfect Conservative-Liberal Marriage that Put the Environment at Par with Energy Outputs. Everyone in the Left from Provincial Liberals and the NDP claimed is way too costly and was not a proven science and called for the Project Shutdown. Big Tent Liberal Money from Agencies and Law and Accounting Firms did a full study and We Persevered; and, The Shell Project is A Huge Success of Seventeen Million Tonnes Captured to Date. To date, Alberta has Completed Forty CCS/CCUS/CCC Projects around the Entire Province and over a Billion Tonnes Captured Stored, Utilized and Converted; making Us; the leading Jurisdiction in the Global Carbon Capture Industry. God Bless Alberta Energy Patch. Hargobind Singh Mangat. Investor/Shareholder/Funder.