Coal India’s consultancy arm CMPDIL has been roped in by NTPC to make separate mining plans for Banai and Bhalumuda coal mines in Chhattisgarh with an aim to maximise the extractable reserves by merging operations...
Anil Agarwal in talks with banks to raise up to $2.5 bln for Vedanta delisting
Vedanta Ltd’s promoter Anil Agarwal is in talks with several banks to tie up loans worth $2.0 billion-$2.5 billion to help finance the delisting offer of Vedanta. On 12 May, Vedanta Resources, the promoter entity...
Tianqi Lithium parent to sell 6% stake in struggling Chinese firm
China’s Tianqi Lithium Corp, one of the world’s biggest lithium producers, said on Monday its controlling shareholder planned to sell around a sixth of its holding, which could raise more than $200 million in much...
Adani, Essar, Reliance Industries participate in CIL’s CBM pre-bid meeting
Coal India’s Jharia block holds CBM reserves of 25 billion cubic metres and is expected to start production two years after it is initiated. The project is estimated to cost Rs 3000 crore. Adani, Essar and...
U.S. proposes divestiture as condition for Novelis purchase of Aleris
The U.S. Justice Department proposed on Tuesday that Novelis Inc divest Aleris Corp’s entire North American aluminum auto body sheet operations as a condition of its acquisition. The Justice Department filed a lawsuit...
Aurubis to win EU approval for Metallo takeover – sources
Europe’s biggest copper smelter Aurubis is set to win EU antitrust approval for its planned 380 million euro ($412 million) acquisition of Belgian-Spanish metal recycling group Metallo, people familiar with the matter...
Hindalco’s subsidiary Novelis completes $2.8 bn acquisition of Aleris
Aditya Birla Group metals flagship, Hindalco Industries, on Tuesday announced the completion of Aleris acquisition by its wholly-owned subsidiary Novelis Inc. The deal, which closed at an enterprise value of $2.8...
SC seeks CBI response on providing copy of probe into disinvestment of govt share in Hindustan Zinc
The Supreme Court on Wednesday sought the CBI’s response on providing a copy of its probe report closing the preliminary inquiry into the disinvestment of the government’s share in PSU Hindustan Zinc Limited...
NCLT approves ArcelorMittal’s Rs 2,360 cr bid for Odisha Slurry Pipeline
The National Company Law Tribunal (NCLT) has approved a Rs 2,359-crore bid of ArcelorMittal India for debt-ridden Odisha Slurry Pipeline Infrastructure Ltd (OSPIL). A two-member bench of the NCLT Cuttack gave a go ahead...
JSW Steel declared preferred bidder for Jajang iron ore block in Odisha
JSW Steel on Monday said it has been declared as a preferred bidder for Jajang iron ore block in Odisha. The Sajjan Jindal-led firm has bagged the iron ore mine in the auction of blocks in Odisha. The block holds...
Hindustan Zinc, Balco residual stake sale not off table: DIPAM secretary
India could look at selling residual government stake in Hindustan Zinc and Balco after a Supreme Court decision, a top government official told ET. “The residual stake sales are not off the table. The case is in SC and...
Hindustan Zinc, Balco residual stake sale not off table: DIPAM secretary
India could look at selling residual government stake in Hindustan Zinc and Balco after a Supreme Court decision, a top government official told ET. “The residual stake sales are not off the table. The case is in SC and...
