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...
Metal
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...
Vedanta to raise up to $1 billion in dollar bonds
Metals magnate Anil Agarwal’s Vedanta Resources would raise up to $1 billion in dollar bonds in the second such issue in six months, harnessing global liquidity to pare high-cost debt and build an expansion kitty ahead...
Hindustan Copper Limited signs MoU Mishra Dhatu Nigam Limited
Hindustan Copper Limited (HCL), the country’s largest integrated copper producer under mines ministry, has signed a Memorandum of Understanding (MoU) with Mishra Dhatu Nigam Limited (MIDHANI), a central public...
Govt asks Vedanta to make a buyback offer for Cairn’s 9.8% stake
The government has asked Vedanta to make a buyback offer for Cairn UK’s 9.8 per cent equity in the company, attached by the tax department for non-payment of dues. The Anil Agarwal-led company is yet to get back to the...
