Sunday 4 December 2016

Kenmare raises production 22pc

MINING

Published 27/01/2010 | 05:00

Kenmare Resources said production of heavy mineral concentrate at its Moma Titanium Minerals mine increased by 22pc in the fourth quarter of 2009, compared with the previous quarter.

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Increased demand from China and other developing countries was likely to lead to strong demand for titanium and zircon, chairman Charles Carvill added.

Tullow snaps up Heritage's assets

Oil

Tullow Oil yesterday signed an agreement to buy Heritage Oil's assets in Uganda for up to $1.5bn (€1.06bn) in an attempt to block a rival offer by Eni. The deal is subject to approval by the Ugandan government.

GM sells Saab to sports-car firm

automobiles

General Motors (GM) agreed to sell Saab to Dutch sports-car maker Spyker Cars in a deal that will save the brand from extinction. The transaction, subject to a €400m European Investment Bank loan for Saab to be guaranteed by Sweden, is expected to close in February, GM said yesterday.

Billionaire eyes apartment deal

BANKS

US Billionaire Wilbur Ross said he may buy the Stuyvesant Town-Peter Cooper Village apartment development after its owners ceded control to lenders including Allied Irish Banks. "We are not really capital-constrained, so we can put up whatever is needed," Mr Ross told Bloomberg. "We're prepared to go all the way."

Figures music to Vodafone's ears

TELECOMS

Vodafone said it has the largest base of paying music subscribers in Europe, with more than 450,000 signed up to its service. The company has agreements with the world's largest record companies such as Universal Music and Sony Music to offer unlimited music and bundles of songs for a monthly fee.

Smaller loss for optimistic Delta

aviation

Delta Air Lines reported a smaller quarterly loss yesterday and said it expected an increase in business travellers to aid results this year. The carrier said it expected growth of revenue per available seat mile each month in 2010.

Irish Independent

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