Brazil’s Vale said on Thursday it is buying out minority stake partner, Japan’s Mitsui & Co, in a Mozambique coal mine and port project, ahead of selling the loss-making asset as it works to become carbon neutral by...
Vedanta Resources launches open offer to acquire 10% stake in Indian unit
After a failed delisting and buying shares in bulk deals, Anil Agarwal-led Vedanta Resources Plc has launched a voluntary open offer to acquire up to 10 per cent stake in flagship Indian firm Vedanta Ltd. The parent has...
Agnico Eagle shares fall on deal to buy Canadian miner TMAC
Shares of Agnico Eagle Mines fell on Tuesday after it agreed to buy TMAC Resources for about C$286.6 million ($225 million), two weeks after Canada’s government rejected Shandong Gold Mining’s bid for the indebted...
Vedanta says no pledge on shares, fundraise conditions bar promoters from share sale
Vedanta Ltd’s promoters cannot sell or create any security on shares they hold in the group as part of the terms attached to the recent $1.4 billion fundraising — conditions which technically fall within the...
Oaktree agrees $400-mn Vedanta Resources debt investment
A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks to meet liquidity needs. The notes will be partly secured by shares in Mumbai...
London-based Vedanta Resources raises stake in India unit to 55.1%
London-based Vedanta Resources (VRL) has raised its stake in its India listed unit, Vedanta to 55.11 per cent by buying from open market shares worth Rs 2,959 crore. VRL bought 18.5 crore shares at a price of Rs 159.94...
Canada rejects bid by China’s Shandong for Arctic gold mine on security grounds
Canada rejected Shandong Gold Mining’s bid for indebted TMAC Resources, the companies said, amid concerns about a Chinese state-owned entity operating in the country’s sensitive Arctic region. Canada and Australia have...
Vedanta founder readies $10 billion to acquire PSUs
Commodities tycoon Anil Agarwal is planning to invest $10 billion through a new partnership targeting government privatizations in India. The billionaire is teaming up with London-based Centricus Asset Management Ltd to...
China Moly buys 95% of DRC copper-cobalt mine from Freeport for $550 million
China Molybdenum Co said on Sunday it had acquired a 95% stake in the Kisanfu copper-cobalt mine in the Democratic Republic of Congo (DRC) from U.S.-based Freeport-McMoRan Inc for $550 million. The Chinese company’s...
Australia’s IGO to take 25% stake in Greenbushes lithium mine from China’s Tianqi
Australian nickel and gold miner IGO Ltd said on Wednesday it would invest $1.4 billion in a local unit of China’s Tianqi Lithium Corp for a stake in the Greenbushes lithium mine, as it looks to cash in on the lithium...
Dominion Diamond reaches deal to sell Ekati mine in Canada
Dominion Diamond Mines ULC said on Monday it reached a deal to sell its Ekati mine in Canada’s Northwest Territories to holders of its second-lien notes, eight months after seeking bankruptcy protection amid a worldwide...
Australia’s CIMIC to sell 50% of mining services business Thiess to Elliott
CIMIC Group said on Monday it will sell half of its mining services business to activist hedge fund Elliott Management, valuing the unit Thiess at A$4.3 billion ($3.04 billion). CIMIC, which will continue to hold the...
