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...
Govt to divest 1.5% in NMDC today at Rs153.5 per share
The government will tomorrow begin sale of 1.5% stake in NMDC at a floor price of Rs153.50 apiece, with an option to retain over-subscription of equal quantum. The two-day offer for sale (OFS) will open for...
CIL looking to buy stakes in overseas coking coal mines
The government today said state-owned Coal IndiaBSE 0.37 % is hunting potential avenues for buying stakes in coking coal blocks overseas. In a written reply to Lok Sabha, Coal Minister Piyush Goyal said, “CIL...
Nalco eyes African countries for strategic mineral assets
National Aluminium Company (Nalco), along with Mineral Exploration Corporation Ltd (MECL) and Hindustan Copper Ltd (HCL), would hunt for strategic mineral assets in South Africa and other African countries. The three...
Australia’s Aurizon in talks to buy debt-saddled coal port
Australian coal rail operator Aurizon Holdings (AZJ.AX) said on Monday it was in talks to buy the Wiggins Island Coal Export Terminal (WICET) in Queensland, which urgently needs to restructure $3 billion in debt. A...
MMTC to sell 26% equity of Sical Iron Ore Terminals
Government-owned trading company MMTC Ltd has initiated the process to offload its entire 26 percent equity in Sical Iron Ore Terminals Ltd (SIOTL), a subsidiary of Sical Logistics. The iron ore terminal has been set up...
Vedanta, Adani may bid for $9 bn Indian diamond project abandoned by Rio
Indian resources conglomerates Adani and Vedanta are considering bidding for a $9 billion diamond project in the country that was abandoned by global miner Rio Tinto this year, according to multiple sources with...
Hindalco weighing bid to acquire Aleris Corp of US
Kumar Mangalam Birla flagship HindalcoBSE 2.25 % is gearing up to mount a multi-billion dollar bid to acquire Aleris Corp. from its private equity owners, said several people aware of the development. This follows talks...
Rio Tinto’s $2 billion coal assets attract investor consortium: sources
A group of investors including buyout firm Apollo and pension fund Canada Pension Plan (CPP) is bidding for coal assets put up for sale by mining giant Rio Tinto (RIO.L), which could fetch $2 billion, sources familiar...
Glencore to raise stake in Peruvian zinc miner Volcan
Miner and commodities trader Glencore (GLEN.L) has agreed to buy a further stake worth at least $531 million in Peru’s largest zinc miner, Volcan Compañia Minera SAA (VOL_pb.LM), the company said on Tuesday. Glencore...
