MUMBAI: Vedanta and Cairn India have sweetened the deal for shareholders to make way for the merger of the latter with the parent company which has faced delays due to key shareholders expressing concerns over the...
Reserve Bank of India approves takeover of Hindalco’s Australian arm by Metal X
NEW DELHI: Aluminium maker HindalcoBSE -0.15 % today said Reserve Bank of India (RBI) has approved Australian miner Metal X’s improved takeover offer for its subsidiary Aditya Birla Minerals Ltd (ABML). “The...
Vedanta to tie up with South African company for gold mining
The Anil Agarwal-promoted Vedanta group was at the forefront of striking business deals during Prime Minister Narendra Modi’s visit to South Africa. It plans to tie up with a host of companies in South Africa, known for...
New Rio CEO Skirts M&A to Focus on Own Mines and Beat Slump
The new Rio Tinto Group chief’s approach to navigating the downturn in the mining industry is simple: Keep calm and carry on. That’s the mantra 44-year-old Jean-Sebastien Jacques plans to adopt after just taking over as...
Potential rival to LME would be costly; tie-up an option
The idea of launching a platform to rival the London Metal Exchange, the world’s biggest market for industrial metals, is unlikely to become a reality without large amounts of capital but a viable alternative...
BHP Billiton steps up coal output, slices costs, eyes acquisitions
Top global miner BHP Billiton outlined plans to boost coal output by 8 percent over the next three years while slashing costs and said it would only consider premium, lowest-cost assets for any acquisitions. BHP...
Tata Steel looks to acquire mines for Corus
Tata Steel is scouting for coking coal and iron ore mines abroad, including in Brazil and Australia, to ensure raw material security for its European operations. "We are actively pursuing raw material interests in...
NMDC plans to expand sponge iron capacity
The country’s single largest iron ore producer and exporter, NMDC Ltd, hopes to complete the merger of Sponge Iron India Ltd with itself in the next three months. Plans are afoot to enhance the capacity of its...
Essar Steel to acquire Shree Precoated
Essar Steel entered into a definite business transfer agreement on Monday to acquire Pune-based Shree Precoated Steels (SPS) for an undisclosed sum. Mr J. Mehra, Chief Executive Officer, Essar Steel, said at a press...
Essar to pay Rs 600 cr for Shree Precoated
The Ruias-owned Essar Steel on Tuesday agreed to acquire the fixed assets and long-term liabilities of Mumbai-based Shree Precoated Steels for a little more than Rs 600 crore, a move that could signal the return of...
RINL-Manganese Ore JV
Rashtriya Ispat Nigam Ltd (the Vizag steel plant) and the Manganese Ore India Ltd have formed a joint venture – RINMOIL Ferro-Alloys Pvt Ltd – to manufacture ferro-alloys, according a press release. The JV...
India Cements unit in deal to buy Indo Zinc
India Cements Ltd said on Monday its unit, ICL Financial Services Ltd, had signed a deal to acquire 39.84 per cent of Indo Zinc Ltd. India Cements currently has 13 per cent stake in Indo Zinc, it said in a statement to...
