Gold miner Genesis Minerals said it was in talks with larger rival St Barbara Ltd to consolidate operations in the Leonora district of resource-rich Western Australia. A potential combination would give Genesis control...
Mining
Fiat owner Stellantis to invest $52 mln in Vulcan Energy for 8% stake
Vulcan Energy Resources said Dutch automaker Stellantis NV would buy an 8% stake for A$76 million ($52.49 million), sending the lithium miner’s shares more than 24% higher. Australia-headquartered Vulcan will...
Got multiple EoIs for FSNL disinvestment: DIPAM Secy
The Secretary of the Department of Investment and Public Asset Management (DIPAM) on Monday tweeted that multiple expressions of interest (EoIs) have been received for the strategic disinvestment of Ferro Scrap Nigam...
Vedanta pledges 5.77% stake in Hindustan Zinc for Rs 8,000 crore term loan
Vedanta Ltd said it has pledged 5.77 per cent stake in Hindustan Zinc Ltd for a term loan of Rs 8,000 crore. The announcement comes days after the Cabinet Committee on Economic Affairs (CCEA) approved the...
Coal India to divest 25% stake in BCCL; plans subsequent listing
State-owned CIL said it is planning to divest 25 per cent stake in its unlisted arm Bharat Coking Coal Ltd (BCCL) and will go for the subsequent listing of the subsidiary on stock exchanges after obtaining further...
Yancoal Australia parent explores potential buyout bid
Coal producer Yancoal Australia Ltd’s, parent and major shareholder Yankuang Energy Group was planning to acquire the remaining shares of the company that the Chinese group does not already own, it said late on...
Cabinet clears sale of govt’s 29.58% stake in Hindustan Zinc valued at Rs 38,000 crore
The Union Cabinet on Wednesday approved the sale of the government’s residual 29.58 per cent stake in Hindustan Zinc Ltd, which at current prices would fetch over Rs 38,000 crore to the exchequer, sources said...
AMC to buy stake in gold-and-silver mining company Hycroft
AMC Entertainment Holdings Inc. is buying 22% of a Nevada-based miner of gold and silver, venturing away from its core movie-theater operations as it adapts to a post-Covid-19 world. AMC said in a statement it would...
Rio Tinto offers $2.7 billion for remaining stake in Turquoise Hill
Rio Tinto PLC offered to pay roughly $2.7 billion to buy out minority shareholders in Turquoise Hill Resources Ltd., which controls a giant copper-mining operation in Mongolia, a bet on copper being in high demand. Rio...
We have no plans to merge Vedanta Limited with parent company: Anil Agarwal
There are no plans to merge Vedanta Limited with its London-based indebted parent Vedanta Resources, billionaire Anil Agarwal said on Wednesday, a day after his company scrapped its proposed restructuring plans that had...
Vedanta drops restructuring plan, board finds present structure ‘optimal’
Vedanta Limited said that it has dropped its restructuring plans which involved hiving off and listing three of its businesses after its board found the present structure to be “optimal”. The company had in November...
Vedanta calls media report on merger with UK parent speculative, misleading
Shares of Vedanta were trading marginally lower in Thursday’s trade after the metals & mining company denied reports of having discussions with prospective advisors on the idea of merging the parent company...
