Coal India plans to submit binding bids for acquiring stakes in coking coal assets in Australia and Canada by March 2020. The firm is in the process of appointing merchant bankers for the assets it has identified. The...
Russia’s Mechel to pay $461 million for stake in Elga coal project: sources
Russian steel and coal producer Mechel agreed to pay around 30 billion roubles ($461 million) for Gazprombank’s 34% stake in the Elga coal project, two sources familiar with the matter told Reuters on Thursday. Elga is...
European Commission clears Novelis’s acquisition of Aleris
Aluminium rolling and recycling company Novelis Inc., a wholly owned subsidiary of Hindalco Industries Ltd, said on Tuesday that the European Commission has approved its proposed acquisition of US-based Aleris Corp, a...
IBBI moves SC with plea to start criminal proceedings against Liberty House
The Supreme Court has agreed to hear on Tuesday a plea moved by the Insolvency and Bankruptcy Board of India (IBBI) in which the insolvency regulator has sought go-ahead to initiate criminal proceedings against Liberty...
Strategic sale of BEML, NMDC unit accelerates
With a poor show so far on disinvestment, the government has identified a clutch of PSUs that would go on the block in the coming months even as it faces major challenges in the wake of FPI outflow and depressed...
U.S. sues to stop Novelis purchase of Aleris
The U.S. Justice Department on Wednesday filed a lawsuit aimed at stopping Novelis Inc’s proposed $2.6 billion purchase of Aleris Corp because of concern over higher prices for aluminum sheet used to make cars. The...
Hindalco not aware of any EU clearance yet on Aleris buy, says Birla
Hindalco Industries Ltd has not received any official communication from the European Union (EU), approving its acquisition of aluminium maker Aleris Corp., chairman Kumar Mangalam Birla said, amid news report that a...
Novelis’ $2.6 billion Aleris deal set for EU green light: sources
U.S. aluminium producer Novelis is set to secure EU antitrust approval for its $2.6 billion bid for Aleris, people familiar with the matter said on Thursday. Novelis, which is U.S.-based but owned by India’s Hindalco...
NCLT asks Jayaswal Neco, SBI to furnish details of SC petition
The dedicated bankruptcy court has asked Jayaswal Neco Industries Ltd and its lender, the State Bank of India (SBI), to give details about the petition filed by the company in the Supreme Court to stay the insolvency...
Government begins process to auction 27 coal mines
The government on Monday said it has begun the process of auction of 27 coal mines and allotment of 15 blocks to public sector undertakings. “The Ministry of Coal has started the process of auction of 27 coal...
Nalco HCL and MECL inks joint venture to form Khanij Bidesh India Ltd
National Aluminium Company (Nalco), Hindustan Copper Ltd (HCL) and Mineral Exploration Corporation Ltd (MECL) have formally inked the joint venture (JV) agreement to form Khanij Bidesh India Ltd (KABIL) to scout for...
JSW Steel declared Preferred Bidder for Karnataka mines
JSW Steel Limited has been declared as the Preferred Bidder for three iron ore mines with an estimated resource of around 92.97 million metric tonnes (MMT) in the auctions held by the government of Karnataka in July...
