South Korean steelmaker POSCO on Monday said it had signed a deal to buy lithium mining rights in Argentina from Australia’s Galaxy Resources for $280 million. POSCO said in a statement that it would also build a...
Brazil’s Usiminas seeks to sell stake in miner Musa: source
Brazilian steelmaker Usinas Siderurgicas de Minas Gerais, known as Usiminas, has hired Banco BTG Pactual SA to sell its 70 percent stake in its mining company, one person with knowledge of the matter said on Thursday...
Coal India’s share sale plans eclipse bright outlook for FY19
After a reasonably good start to the first quarter, Coal India Ltd’s outlook for the rest of the fiscal year also looks bright. Demand from the power sector is expected to be strong. Coal stocks at power plants are low...
ORL may merge 2 unlisted arms with itself
Orient Refractories (ORL) plans to merge its two unlisted subsidiaries – RHI India and RHI Clasil – with itself for better operational efficiency and simplify holding structure. All three companies are part...
Government may divest up to 10 per cent stake in Coal India
The Centre is likely to divest 5% to 10% of Coal India’s equity through an offer for sale in an effort to comply with the norm requiring listed companies to have at least 25% public shareholding. The company management...
Indonesia’s Inalum secures $5.2 billion financing for Freeport deal: sources
Indonesia’s state-owned miner Inalum has secured $5.2 billion in financing from 11 foreign and local banks, according to sources with knowledge of the matter, to be used in part to buy a majority stake in the Grasberg...
Vedanta chairman offers $1 billion to take Indian miner private
Chairman Anil Agarwal’s family trust plans to offer around $1 billion in cash to take London-listed Vedanta Resources Plc private, the Indian company said, as it grapples with the aftermath of deadly protests at home...
Australia’s Atlas Iron backs Rinehart’s $287 million buyout offer
Australian iron ore miner Atlas Iron (AGO.AX) on Friday endorsed a A$390 million ($287 million) buyout from billionaire Gina Rinehart’s Hancock Prospecting, taking the mining heiress closer to gaining greater access to...
BHP-Mitsubishi JV to sell Australia coal mine to Japan’s Sojitz
Global miner BHP Billiton (BHP.AX) said on Wednesday that its joint venture with a unit of Mitsubishi Corp (8058.T) would sell a coal mine in Queensland in Australia to Japan’s Sojitz Corp (2768.T) for A$100 million...
Rio Tinto in talks for $3.5 billion Grasberg copper stake sale
Global miner Rio Tinto Ltd (RIO.AX) confirmed on Wednesday it was in discussions to sell its interest in the world’s second largest copper mine to Indonesia’s Inalum for $3.5 billion. No agreement has been reached and...
Anglo looks to sell Peru copper stake to Japanese firms: sources
Anglo American (AAL.L) is likely to sell up to 30 percent of its multi-billion dollar Peruvian copper project Quellaveco to Japanese entities, including Mitsubishi, which already own part of it, three sources familiar...
Contura, Alpha to merge, creating largest U.S. met coal producer
Contura Energy Inc (CNTE.PK) and Alpha Natural Resources Holdings Inc (APNR.PK) said on Monday they agreed to merge, creating the largest U.S. producer of metallurgical (met) coal, used in steelmaking, and reuniting the...
