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...
Rio Tinto exits coal with $2.25 billion Kestrel sale
Global miner Rio Tinto sold its remaining coal mine in Australia for $2.25 billion, making good on a pledge to exit the fuel and boosting its ability to fund future buybacks or higher dividends. The sale of Rio’s stake...
Rio Tinto eyes tie-up with Chhattisgarh miners, execs meet CM in Australia
Rio Tinto, one of the world’s leading mining companies, will explore the possibilities of associating with Indian miners to expand its mining operations in mineral-rich Chhattisgarh. The delegation from Chhattisgarh led...
NMDC disinvestment: Institutional buyers offer bids of Rs976 crore
Institutional investors put in bids worth Rs976 crore on Tuesday for buying government’s part stake in state-owned miner NMDC. The government had originally planned to sell 1.5% stake in the company, with a green-shoe...
