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...
Nalco, Hindustan Copper, MECL sign pact to acquire overseas minerals
Aluminium major National Aluminium Company Ltd (Nalco) has teamed up with two more central PSUs- Hindustan Copper Ltd (HCL) and Mineral Exploration Corporation Ltd (MECL)- to explore acquisition options through a joint...
BHP denies it has agreed to sell Samarco stake to Vale
BHP Billiton on Tuesday denied commentary in a Brazilian newspaper that it has agreed to sell its stake in the Samarco iron ore mine to its partner Vale. The Samarco mine has been shut since November 2015, when a dam...
Yancoal gets OK to on-sell 16.6 percent of some Rio coal assets
Yancoal Australia has been cleared by its Chinese parent, Yanzhou Coal Mining, to sell 16.6 percent of the key assets of Rio Tinto’s Coal & Allied division, once its completes the $2.69 billion Coal &...
