Aluminium major Nalco is planning to set up two joint ventures – one with US-based Almex and another with Russia’s Rusal – at the upcoming Angul Aluminium Park in Odisha, a senior company official said...
Hindalco weighing bid to acquire Aleris Corp of US
Kumar Mangalam Birla flagship HindalcoBSE 2.25 % is gearing up to mount a multi-billion dollar bid to acquire Aleris Corp. from its private equity owners, said several people aware of the development. This follows talks...
NMDC plans to sell nearly 49% stake in its Chhattisgarh steel plant
India’s top iron ore miner NMDC Ltd. is looking to sell a stake of at least 49% in its Chhattisgarh steel plant, as it prepares to begin production at the 3-million-ton facility in three to six months, according to a...
Aditya Birla’s acquisition bid may value Aleris Corp at $2.5 billion
Billionaire Kumar Mangalam Birla’s Aditya Birla Group is readying a bid for aluminium maker Aleris Corp., according to two people directly aware of the development. The group’s bid may assign a $2.5 billion enterprise...
Essar invests Rs 830 cr to double Vizag Port iron ore capacity
Essar PortsBSE 0.15 % today said its Rs 830 crore expansion plan to almost double the iron ore handling capacity to 23 million tonne per annum (MTPA) at Vizag port is nearing completion. After completion of the project...
Indian billionaire Agarwal to buy bigger stake in Anglo American
Volcan Investments, the family trust of diversified miner VedantaBSE -1.66 % on Thursday said it was increasing its stake in Anglo American. In a statement, it said it was increasing its stake by acquiring shares worth...
Nalco, Hindustan Copper, MECL sign pact to acquire overseas minerals
Aluminium major National Aluminium Company Ltd (Nalco) has teamed up with two more central PSUs- Hindustan Copper Ltd (HCL) and Mineral Exploration Corporation Ltd (MECL)- to explore acquisition options through a joint...
Cargill sells U.S. metals ops to Japan’s Metal One as boosts focus on food
Global commodities trader Cargill Inc [CARG.UL] said it has agreed to sell its U.S. metals business to Japan’s Metal One Corp, its latest move to boost its focus on higher-margin food and agricultural businesses. A deal...
Hindalco earmarks $3 billion for overseas acquisitions
Aditya Birla Group has earmarked at least $3 billion for acquisitions in its aluminium business Hindalco Industries Ltd, at least two people aware of the development said. The funds will be used to acquire assets in the...
Vedanta to invest Rs 50,000 cr on India business expansion: Anil Agarwal
Metals and mining conglomerate Vedanta Resources has plans to invest around Rs 50,000 crore on business expansion in India in coming years, its Chairman Anil Agarwal said today. He also expressed hope that the...
Kumar Mangalam Birla looks for possible merger with Constellium, Aleris Corp.
Indian billionaire Kumar Mangalam Birla is evaluating possible bids for Constellium NV and Aleris Corp. as his conglomerate seeks to grow its aluminum operations overseas, people with knowledge of the matter said...
Vedanta sees golden opportunity to buy Deccan Gold Mines
Just months after launching an audacious raid to buy into rival London miner Anglo American, Vedanta Resources is betting on gold, an area which is relatively new for the Anil Agarwal-promoted company. Vedanta has...
