Canada’s MineHub Technologies Inc, which has digitised trade finance and logistics in metals and mining, agreed to buy rival Waybridge for $2.5 million in MineHub shares, the firms said on Thursday. Online...
Hindustan Zinc to get in touch with mines ministry for resolution on acquisition of Vedanta’s overseas assets
Hindustan Zinc is planning to get in touch with the mines ministry to resolve the differences over the acquisition of overseas assets of holding company Vedanta Ltd, Hindustan Zinc CEO Arun Misra said. Valuation of the...
Government against $3 billion Vedanta international zinc business sale to Hindustan Zinc
The government has raised objections to Vedanta Resources’ proposal to sell its international zinc assets for nearly $3 billion to Indian subsidiary Hindustan Zinc (HZL), people aware of the development told ET...
Govt receives representations to merge RINL with SAIL or NMDC: Minister Kulaste
The government has received various representations to merge RINL with SAIL or NMDC, Parliament was informed on Monday. At present, Rashtriya Ispat Nigam Ltd (RINL) has a strength of 4,875 executives and 10,005 non...
Govt to sell some stake in Hindustan Zinc by next month: DIPAM secy
The government is likely to sell a part of its residual stake in Hindustan Zinc Ltd by next month to help it achieve the revised sell-off target of Rs 50,000 crore for the current fiscal, DIPAM Secretary Tuhin Kanta...
Shyam Metalics acquires Mittal Corp
Kolkata-headquartered integrated metal producer Shyam Metalics and Energy Ltd has announced the acquisition of Indore-based Mittal Corp Ltd to expand its footprint in stainless steel, wire rod and bar mill businesses...
ICICI Sec, Axis Cap among 5 bankers to manage govt’s HZL stake sale
ICICI Securities, Axis Capital and Citigroup Global Markets are among the five investment bankers selected to manage the sale of the government’s 29.53 per cent residual stake in Hindustan Zinc Ltd, an official...
Bankruptcy court okays Orissa Metaliks’ revival plan for MSP Metallics
The dedicated bankruptcy court has approved a revival plan submitted by Orissa Metaliks Pvt Ltd (OMPL) for the integrated steel manufacturer MSP Metallics Ltd. Kolkata-based OMPL is paying about Rs 800 crore, whereas...
Vedanta acquires debt ridden Athena Chhattisgarh Power for Rs 565 cr
Mining major Vedanta said it would acquire debt-ridden Athena Chhattisgarh Power for Rs 564.67 crore in an all-cash transaction. The liquidation process for the company was initiated in March last year. According to...
Got multiple EoIs for FSNL disinvestment: DIPAM Secy
The Secretary of the Department of Investment and Public Asset Management (DIPAM) on Monday tweeted that multiple expressions of interest (EoIs) have been received for the strategic disinvestment of Ferro Scrap Nigam...
Cabinet clears sale of govt’s 29.58% stake in Hindustan Zinc valued at Rs 38,000 crore
The Union Cabinet on Wednesday approved the sale of the government’s residual 29.58 per cent stake in Hindustan Zinc Ltd, which at current prices would fetch over Rs 38,000 crore to the exchequer, sources said...
We have no plans to merge Vedanta Limited with parent company: Anil Agarwal
There are no plans to merge Vedanta Limited with its London-based indebted parent Vedanta Resources, billionaire Anil Agarwal said on Wednesday, a day after his company scrapped its proposed restructuring plans that had...
