Top Stories for May 30, 2024:

1. U.S. Steel (NYSE:X) and Nippon Steel have received all necessary regulatory approvals outside the U.S. for their proposed transaction. 

Approvals came from various international competition authorities, including those in the EU, Mexico, Serbia, Slovakia, Turkey and the UK. 

U.S. Steel CEO David B. Burritt stated that the approvals confirm the transaction’s pro-competitive nature and its strategic benefits, enhancing the firm's position as a leading global steelmaker and strengthening the U.S.-Japan alliance against China.

2. After over five weeks of discussions, BHP (NYSE:BHP) couldn't reach an agreement to acquire Anglo American (OTC:AAUKF) due to disagreements on South African regulatory risk and cost. 

BHP was interested in Anglo American’s valuable copper assets in South America, and maintains that its proposal was the best way to deliver value to Anglo American shareholders. 

BHP is disappointed that Anglo American’s board has ceased discussions and says that Anglo American’s assertion about the proposal’s value risk being solely borne by its shareholders is inaccurate.

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3. U.S. GoldMining (NASDAQ:USGO) announced the release of its sustainability initiatives summary for the past year. 

The factsheet highlights the company’s governance on sustainability risks and its performance on environmental and community initiatives. 

Key points include advancing the Whistler Gold-Copper Project in Alaska, contributing to local economic growth and spending $4.3 million with local suppliers

The company also supported community causes with over $60,000 in donations and emphasized health and safety with extensive training. 

Finally, the company achieved 50% female representation on its Board of Directors.

4. Reliance’s (NYSE:RS) short interest has increased by 10.23%, with 1.04 million shares sold short, representing 2.37% of available shares. 

At current levels, it would take traders 3.35 days to cover these positions.

5. Alpha Metallurgical’s (NYSE:AMR) short interest has increased by 9.28%, with 1.39 million shares sold short, representing 15.66% of available shares. 

At current levels, it would take traders 6.76 days to cover these positions.

6. Seaport Global analyst Martin Englert upgraded Radius Recycling (NASDAQ:RDUS) from Sell to Neutral.

Now Read: This Gold Mine Operator Will Outperform Peers, Analyst Says: ‘Skouries Construction Gains Momentum’

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