Latest news with #MVV
The Star
28-04-2025
- Business
- The Star
Loke wants PD container port approval to be expedited
SEREMBAN: The Negri Sembilan government, particularly the local authority concerned, has been urged to expedite the Planning Approval application to build an AI-driven container port in Port Dickson (PD). Anthony Loke (PH-Chennah) called the project crucial for the development of Negri Sembilan, particularly in advancing the Malaysia Vision Valley (MVV) 2.0 initiative, and in strengthening the state's industrial sector. "I have been informed that the investment for the project from a private company has been secured, and the funding to build the port is already available. Therefore, I hope the state executive council and the Port Dickson Municipal Council will give serious attention to the development of this project. "I jokingly told the Prime Minister that Port Dickson has the word 'Port' in its name, but there is no actual port, only a jetty. We hope this container port will be realised, as it will be the first container port development within the state's maritime boundary," he said when debating the motion of thanks for the Royal Address at the state legislative assembly sitting here on Monday (April 28). Loke, who is also Transport Minister and Seremban MP, further urged the state government to prioritise approval of semiconductor investments under the MVV 2.0 project, to ensure the sector continues to grow, especially given the current high demand for semiconductors. He added that Negri Sembilan could also seize the opportunity to develop an industrial park through the collaboration under the 'Two Countries, Twin Parks' project between China and Malaysia, for which a memorandum of understanding was recently signed. Meanwhile, Datuk Saiful Yazan Sulaiman (BN-Johol) proposed the establishment of a special state investment team to explore alternative markets such as the Middle East, South Asia, and Africa, while enhancing facilities for investors in green technology and automation in line with the digitalisation agenda. He also suggested that government-linked companies should become more aggressive in driving the state's economy, rather than relying solely on conventional business models, as the world is rapidly moving towards AI and data-driven economies. Opposition leader Mohamad Hanifah Abu Baker (PN-Labu) voiced concern over the rising use of vape among the younger generation in the state, viewing it as a serious threat to public health. Tensions rose briefly when Mohamad Hanifah questioned the allocation of only 20 minutes for his debate speech, compared to other states where opposition leaders are given up to 45 minutes. Following this, Negeri Sembilan State Assembly Speaker Datuk MK Ibrahim Abd Rahman reprimanded Mohamad Hanifah and clarified that the speaking time allotted was the same for all state assembly members (ADUNs). - Bernama
Yahoo
04-04-2025
- Business
- Yahoo
Appian Capital divests Mineração Vale Verde to Baiyin Nonferrous for $420m
Investment advisor Appian Capital Advisory has completed the sale of Mineração Vale Verde (MVV), a mining company based in Brazil, to China-based Baiyin Nonferrous for an all-cash offer of $420m (3.06bn yuan). MVV owns the Serrote greenfield open-pit copper-gold asset in Alagoas, Brazil. The sale includes the complete equity of MVV on a cash-free, debt-free basis. Appian is providing operational support to Baiyin Nonferrous during the asset transition. This transaction underscores Appian's proficiency in enhancing value for its investors by advancing MVV into production and establishing a profitable mid-scale copper-gold open-pit mining operation from greenfield status, according to the company. The sale of MVV represents Appian's 13th successful exit. Appian Founder and CEO Michael W. Scherb said: 'This transaction further validates Appian's ability to identify great overlooked assets and use our in-house technical expertise to realise their potential and optimise their value for our investors. It underlines the strategic positioning of Appian's portfolio to support the growing demand for a reliable supply of high-quality critical minerals.' Financial advisory services for the deal were provided by Standard Chartered and Citigroup, while Norton Rose Fulbright served as the legal advisor to Appian. Since acquiring MVV in 2018 from Aura Mineral with only ten employees, Appian has transformed the company, which now has more than 1,050 employees. Appian's strategic acquisition and optimisation of MVV involved revising the Serrote project's definitive feasibility study and implementing cost-effective changes. This resulted in reduced capital expenditures and operating costs. The company also secured a $140m financing facility from three international banks and signed offtake agreements with global traders and smelters. Serrote began production in May 2021 and has a safety record of zero lost time incidents over the past three years. In 2024, the mine produced 18,300 tonnes (t) of copper and 8,200oz of gold, generating EBITDA (earnings before interest, taxes, depreciation and amortisation) of $83.9m (477.69m reais) from revenues of $184.4m. In a separate development, Appian Capital Advisory announced plans to acquire a majority stake in the Rosh Pinah Solar Park from Emesco Energy to supply clean energy to Rosh Pinah Zinc's mine in Namibia. "Appian Capital divests Mineração Vale Verde to Baiyin Nonferrous for $420m" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
