The government on Thursday approved the privatisation of Ferro Scrap Nigam Ltd (FSNL) to Japanese corporation Konoike Transport Co Ltd for Rs 320 crore. Under the Steel Ministry, FSNL is a 100 per cent subsidiary of...
Demerger of Vedanta likely by end of FY25: Top official
The demerger of mining conglomerate Vedanta Ltd’s key businesses, including aluminium, into separate listed companies is expected by the end of FY25, a top official of the company said on Wednesday. Vedanta Ltd...
NCLAT asks RP to bring on record e-mail sent to successful bidder Sarda Energy seeking clarification
The NCLAT on Wednesday directed the resolution professional of SKS Power Generation to submit and bring on record the e-mail sent to the successful bidder, Sarda Energy and Mining on May 8, 2023, seeking clarifications...
Consol Energy, Arch Resources strike merger deal to create $5 billion coal mining giant
Arch Resources will merge with Consol Energy in an all-stock deal to create a North American coal mining giant valued at more than $5 billion. There has been a lack of investment in new coal mines amid tight emission...
Vedanta to sell 2.6% stake in Hindustan Zinc via OFS
Metals and mining major Vedanta Ltd on Tuesday announced that its committee of directors has approved the sale of up to 11 crore shares or 2.6% equity in Hindustan Zinc via an offer for sale (OFS). “We wish to...
Gold Fields to buy Canadian miner Osisko in $1.57 billion cash deal
Gold Fields Ltd has agreed to acquire Osisko Mining for C$2.16 billion ($1.57 billion), it said on Monday, barely two years after an attempt to buy another Canadian miner was scuppered by a rival offer. The Johannesburg...
BHP mulling sale of gold, copper mines in Brazil, Bloomberg News reports
BHP Group, the world’s top miner, is mulling a sale of Brazilian copper and gold assets it took over as part of the buyout of smaller peer Oz Minerals, Bloomberg News reported on Wednesday, according to people...
Vedanta files demerger scheme with NCLT
Mining giant Vedanta has filed the demerger scheme with the National Company Law Tribunal (NCLT) post receiving all the required approvals, its CFO Ajay Goel said on Tuesday. Goel announced this in their quarterly...
BHP and Lundin Mining boost copper access, to buy Filo for $3.25 bln
Global miner BHP Group and Canada-listed Lundin Mining will jointly take over developer Filo Corp for C$4.5 billion ($3.25 billion), the companies said on Monday, as they move to progress the South American projects...
Vedanta going ahead with demerger of businesses: Chairman Anil Agarwal
Vedanta Chairman Anil Agarwal on Wednesday said that the company is going ahead with the proposed demerger of its businesses that will lead to the formation of six firms and unlocking of massive value. The company has...
Anil Agarwal likely to sell a 2.5% stake in Vedanta
Billionaire Anil Agarwal’s Vedanta Resources is likely to sell a 2.5% stake in Vedanta Ltd in the next couple of weeks through block deals, said two persons aware of the development. Promoter group is likely to sell...
Australia’s Rio Tinto to buy Mitsubishi’s nearly 12% stake in Boyne Smelters
Mining giant Rio Tinto said on Tuesday it will buy Mitsubishi Corp’s 11.65% stake in Boyne Smelters (BSL) for an undisclosed sum. Boyne, which owns and operates the Boyne Island aluminium smelter in Gladstone...
