Indonesia’s state miner Mining Industry Indonesia (MIND ID), formerly known as PT Inalum, completed its purchase of a 20% stake in nickel miner PT Vale Indonesia, the country’s state-owned enterprises ministry said on...
Erris buys 50% stake in German lithium project from Bacanora
Erris Resources plc and Bacanora Lithium are in the “advanced stages” of a reverse takeover under which Erris will acquire Bacanora’s 50% stake in Deutsche Lithium GmbH in exchange for new shares in...
Encounter Resources offers BHP 75% stake in Elliot Copper project
Encounter Resources said on Thursday it signed an option pact with BHP Group to give the global miner a stake of up to 75% in its Elliot Copper project after completion of a joint validation program. BHP and Encounter...
GOCL Corp’s UK subsidiary to sell partial stake in Quaker Chemical for $35 mn
Hinduja Group firm GOCL Corporation on Monday said the company, through its UK subsidiary, has decided to divest 2,00,000 shares of Quaker Chemical Corporation, little less than half of its total holding, for USD 35...
Australia’s New Century scraps acquisition of Vale’s Pacific island projects
Australian zinc miner New Century Resources Ltd said on Tuesday it will not proceed with the acquisition of Vale Nouvelle-Caledonie’s (VNC) nickel and cobalt mines on the Pacific island of New Caledonia, knocking...
NMDC board okays demerger of three-mn-tonne Chhattisgarh steel plant
India’s single largest iron ore producer, state-owned NMDC, said on Friday that its board had approved a proposal to demerge NMDC Iron & Steel Plant (NISP). The board met on Thursday and accorded in-principle...
NMDC’s Board approves demerger of iron and steel plant in Chhattisgarh
The board of directors of the state-owned iron ore producer, NMDC Ltd, has approved the proposal to demerge its 3 million tonne Iron & Steel Plant in Nagarnar, Chhattisgarh. “The Board of Directors of the Company at...
Vedanta raises $1.4 bn via bonds to fund delisting of Indian flagship firm
Vedanta Resources Ltd on Thursday said it has raised $1.4 billion (around Rs 10,500 crore) via bonds, which would be primarily used to fund the delisting of its Indian flagship firm. “Vedanta Resources Ltd (VRL)...
Australia’s South32 to sell manganese alloy smelter TEMCO to UK’s GFG Alliance
Australian diversified miner South 32 Ltd said on Thursday it would sell its entire stake in manganese alloy smelter Tasmanian Electro Metallurgical Company (TEMCO) to UK-based conglomerate GFG Alliance. GFG will...
K+S shortlists billionaire, private equity for Morton Salt sale: sources
German minerals miner K+S has shortlisted hedge fund billionaire James Simons’ family office as well as private equity firms for a sale of its $2 billion Morton Salt business, people familiar with the matter said. K+S’s...
Brazil’s BNDES raised $1.5 billion with sale of Vale shares: source
Brazil’s state-controlled development bank BNDES raised 8.1 billion reais ($1.53 billion) by selling 135 million shares in miner Vale SA in an auction on Tuesday morning, a source familiar with the matter said. After...
Vedanta Group’s Gen Z in JV with Australian firm to make mining products
Runaya, a metals start-up founded by the sons of Vedanta Ltd Vice-chairman Navin Agarwal, has signed a joint venture (JV) pact with Minova, a wholly-owned division of Australia-based Orica, to manufacture niche products...
