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...
China Moly takes full control of ex-Dreyfus metals unit for $518 million
China Molybdenum Co, majority owner of a huge copper-cobalt mine in the Democratic Republic of Congo, said on Thursday it had completed the acquisition of all of IXM, formerly the metals business of trading house Louis...
NCLAT stays liquidation process against Adhunik Metaliks
The National Company Law Appellate Tribunal (NCLAT) has stayed the liquidation process against corporate debtor Adhunik Metaliks. This follows an appeal by Liberty House group. The latter had emerged the successful...
Thyssenkrupp inks pact with Gainwell to strengthen market presence in India
Thyssenkrupp Industries India today announced that it has entered into an exclusive distribution agreement with Gainwell, a leading distributor for construction, mining and power solutions having a strong presence in...
Vedanta plans to invest ₹35,000 crore in metals biz
Natural resources conglomerate Vedanta Ltd will invest nearly half of its three-year capital expenditure plan of₹55,000 crore in its metals business, chairman Navin Agarwal said, undaunted by the decline in their prices...
EU objects to Hindalco’s plan to buy aluminum producer Aleris Corp
Kumar Mangalam Birla’s Hindalco Industries will have to tackle European anti-trust objections on its plan to buy aluminum producer Aleris Corp. to expand as a supplier to the car industry. Novelis said the European...
