Scottish engineering firm Weir Group plans to buy US mining tools firm Esco Corporation for about £900million.
London’s top-flight index finished on an all-time high for the second year in a row as surging mining stocks ensured a strong performance from the market.
Mineral exploration and production company Kodal has identified "very strong" deposits of Lithium, a crucial ingredient in battery manufacturing.
Perth and Kinross Council today approved plans to develop a mine that will supply the North Sea industry with a vital mineral for decades to come.
The London market opened broadly flat, as top flight shares struggled to hold on to gains made earlier this week.
The London stock market rose strongly, driven by mining and oil stocks which clawed back much of yesterday’s heavy losses.
BHP Billiton made a larger-than-expected cut to its dividend, lowering the payout for the first time in 15 years, as the world’s biggest mining company seeks to protect its balance sheet and credit ratings amid a price collapse that saw first-half profits tumble 92%.
Glencore chief executive Ivan Glasenberg won a vote of confidence from lenders that he can steer the mining company through a dismal market and restore it to financial stability.
Venezuela President Nicolas Maduro moved to increase the military’s involvement in the country’s oil and mining industries with the creation of a new state company that will report to the Defense Ministry.
The closure of the UK’s last deep coal pit signals the end of an era for a once proud and powerful industry. Miners will work their final shifts tomorrow at Kellingley Colliery in North Yorkshire, leaving many looking for new jobs. Owners UK Coal will also go out of business after the company oversees the closure and transfer of the site for redevelopment.
The London market opened lower this morning dragged lower by oil and mining stocks. The FTSE 100 Index was 20.1 points down at 6424.9, as investors cheer over economic news from China and the European Union at the end of last week faded. On Friday stocks rose after China cut its key interest rate for the sixth time this year, falling by 0.25% to 4.35%, in the hope this will spur growth as the country tries to reduce its reliance on construction and heavy industry.