Vedanta Ltd on Wednesday said its arm Monte Cello BV (MCBV) has entered into a term-sheet agreement to divest Mt Lyell Copper Mine in Australia. MCBV is the 100 per cent owner of the Mt Lyell Copper Mine, a small copper...
Pilbara Minerals finalises deal with POSCO for S.Korea lithium facility
Pilbara Minerals Ltd said on Tuesday it had finalised a joint venture agreement with steel giant POSCO to develop a lithium hydroxide conversion facility in South Korea, sending the Australian miner’s shares more...
Vedanta plans to invest $20 billion; eyes selloff of BPCL among others
Vedanta group chairman Anil Agarwal has said his companies are looking to invest around $20 billion in India, possibly during the privatisation of BPCL, Shipping Corporation and Hindustan Copper. “We are...
Myanmar Metals to sell Bawdwin project in wake of coup
Myanmar Metals said on Wednesday it planned to sell its 51% stake in the Bawdwin silver, lead, and zinc project in Myanmar, citing difficulties in securing financing for the $300 million projects after a coup led to...
Zambia court halts liquidation proceedings over Vedanta Resources mines
A Zambian court has stayed hearing by a state-appointed provisional liquidator for splitting up Vedanta Resources’ Konkola Copper Mines (KCM) unit and selling the assets. The stay on KCM liquidation proceedings...
Rusal to complete demerger of higher carbon assets in early 2022
Russian aluminium producer Rusal is expected to complete the demerger of its higher-carbon assets into a separate company in the first quarter of 2022, its head of strategy Oleg Mukhamedshin told Reuters. Hong-Kong...
Tata Steel Mining declared successful resolution applicant for Rohit Ferro-Tech
Tata Steel Mining Limited (TSML) has been declared as the successful resolution applicant by the creditors of Rohit Ferro-Tech Limited, steel major Tata Steel said on Sunday. Tata Steel Mining Limited is a wholly-owned...
Bain-led consortium to buy Hitachi Metals for $7.5 billion
A consortium led by global private equity firm Bain Capital will buy all the shares of Hitachi Metals Ltd for 817 billion yen ($7.5 billion), Hitachi Ltd’s metals subsidiary said on Wednesday. For Hitachi, which...
First parts of billionaire Sanjeev Gupta’s steel empire headed for bankruptcy
Three French auto parts factories belonging to Alvance Aluminium, part of the steelmaking GFG Alliance owned by Indian-British billionaire Sanjeev Gupta, will file for bankruptcy protection on Friday, the company and...
Hitachi in talks with Bain to sell metals unit for over 800 billion yen: Nikkei
Japanese industrial conglomerate Hitachi Ltd picked a group led by Bain Capital as the preferential bidder for its metals unit in a deal likely to top 800 billion yen ($7.3 billion), Nikkei reported on Thursday. Bain...
Centre seeks early Supreme Court ruling on Hindustan Zinc stake sale
The Union government on Monday requested the Supreme Court for an early decision in a five-year-old writ petition challenging the offloading of government equity in Hindustan Zinc (HZL) and said pendency of the petition...
Aluminium producer Hydro agrees $1.65 billion sale of Rolling division
Norwegian aluminium maker Norsk Hydro has agreed to sell its underperforming Rolling division to private equity firm KPS Capital Partners for 1.38 billion euros ($1.65 billion), Hydro said on Friday. The division, which...
