Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
Australian zinc miner New Century Resources on Wednesday recommended its shareholders accept South African precious metals producer Sibanye-Stillwater’s takeover offer of A$144.1 million ($94.9 million).
Sibanye-Stillwater, the biggest shareholder in New Century with an up to 73.41% stake, last month launched an unsolicited takeover bid of A$1.10 cash per share.
New Century said it recommends it shareholders accept the Sibanye offer in the absence of a competing proposal.
New Century, which has been producing zinc from tailings or waste, is an attractive takeover target as Sibanye-Stillwater has been expanding into recycling and waste management.
($1 = 1.5184 Australian dollars)
(By Upasana Singh; Editing by Krishna Chandra Eluri and Shinjini Ganguli)
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