Canada’s Dominion Diamond Corp (DDC.TO), the world’s third-largest diamond producer by market value, is in advanced and friendly talks with The Washington Companies on a sweetened cash takeover bid, sources...
NITI Aayog proposes break-up of Coal India into seven firms
India should split the seven units of state-controlled Coal India Ltd into independent companies to make it more competitive, the government’s policy think-tank said on Tuesday in a draft of a new energy policy...
Vedanta to invest $1 bn more in FY18, says CEO
Tom Albanese, CEO of Vedanta Ltd and London-listed Vedanta Resources Ltd, is optimistic that the good days of metal and oil companies are finally here which would see the returns on investments to go up in the current...
Vale’s board approves top shareholder proposal for reorganization
Vale SA’s (VALE5.SA) board approved on Thursday a definitive swap ratio of 0.9342 common share per preferred stock as part of a plan to transform the world’s No. 1 iron ore producer into a company with...
Mahanadi Coalfields approves Rs1,617 crore share buyback plan
The board of Mahanadi Coalfields Ltd has agreed to release Rs1,617.06 crore in cash through a share buyback, almost Rs600 crore more than it had agreed to release in June last year, Coal India Ltd (CIL) said on...
Glencore agrees $960 million copper and cobalt deal with Fleurette
Glencore has increased its hold on Democratic Republic of Congo’s copper and cobalt resources by buying the remaining stake in the Mutanda mine from resource group Fleurette and increasing its share in Katanga for...
Government likely to divest upto 10 per cent in Coal India
The government plans to divest up to 10 per cent in Coal IndiaBSE -1.79 % by August, a move that will help it earn about Rs 20,000 crore at today’s prices and reduce its stake to 69 per cent. The government is likely to...
Gold Miners Burned by Bad Deals Are Again Rushing to M&A
It’s been a dirty word in the gold-mining industry for the last three years, but now companies can’t stop saying it: growth. Top executives are on the hunt for mergers and acquisitions, and focusing on exploration as...
Gold Turnaround King Follows Biggest Deal With Plan for More
The mastermind behind the biggest overseas acquisition by a South African mining company for 15 years promises more to come. “There must be more expansion,” Sibanye Gold Ltd. Chief Executive Officer Neal Froneman, 56...
Freeport closes Congo mine sale; Trump appointees keenly awaited
Freeport-McMoRan Inc (FCX.N) said on Wednesday it had wrapped up the $2.65 billion sale of its stake in the Democratic Republic of Congo’s Tenke mine, and the company’s chief executive said he hopes...
At e-auction, Coal India sells 35% stock at higher than listed price
KOLKATA: Coal IndiaBSE -1.32 % sold 7 million tons of coal, or 35% of the quantity on offer in an e-auction, at a floor price that was 20% higher than listed prices for non-power users. Traders, as well as power...
Gold’s Hottest Stock Sees Mergers Off the Cards as Prices Surge
The opportunity for mergers and acquisitions in gold mining has already passed as share prices surge, according to the head of the best-performing producer in the past decade. “It’s hard to see how M&A adds value to...
