Russian aluminium producer Rusal is expected to complete the demerger of its higher-carbon assets into a separate company in the first quarter of 2022, its head of strategy Oleg Mukhamedshin told Reuters. Hong-Kong...
Mining
Tata Steel Mining declared successful resolution applicant for Rohit Ferro-Tech
Tata Steel Mining Limited (TSML) has been declared as the successful resolution applicant by the creditors of Rohit Ferro-Tech Limited, steel major Tata Steel said on Sunday. Tata Steel Mining Limited is a wholly-owned...
UK rejects $234 million bailout request for Sanjeev Gupta’s GFG
The UK government rejected a request from Sanjeev Gupta’s GFG Alliance for a 170 million-pound ($234 million) bailout as it struggles to stay afloat following the collapse of its biggest lender. The plea was rebuffed...
Centre seeks early Supreme Court ruling on Hindustan Zinc stake sale
The Union government on Monday requested the Supreme Court for an early decision in a five-year-old writ petition challenging the offloading of government equity in Hindustan Zinc (HZL) and said pendency of the petition...
Pimco rules out future Adani Ports investment on controversial Australia coal project
Pacific Investment Management Co., which is seeking to decarbonize its investment portfolio, has stopped participating in the bond offerings of Adani Ports & Special Economic Zone Ltd. because of its links to a...
Anil Agarwal pledges stake to sweeten deal for Vedanta Ltd
Anil Agarwal, billionaire founder of the Vedanta Group, has pledged his stake in a cash-rich Indian unit to help sweeten terms for a takeover attempt that’s key to his debt-repayment plans. London-based Vedanta...
Polish miner KGHM looking to sell two U.S. copper assets – sources
Poland’s state-run mining company, KGHM, plans to sell its Robinson and Carlota copper mines in the United States and reinvest the proceeds in its domestic operations, two banking sources told Reuters. KGHM, one of...
Endeavour pivots to exploration to shake ‘M&A junkie’ image after deal spree
Canadian gold firm Endeavour Mining, which is preparing for a London listing late next quarter, is switching its focus to integrating new mines after a $2.7 billion acquisition spree in West Africa last year spooked...
Ahead of open offer for India unit Vedanta Ltd, firm plans bond sale
Vedanta Resources Ltd. has mandated banks to arrange investor meetings ahead of a potential bond sale, as the firm conducts an open offer for its main listed unit. Vedanta Resources Finance II Plc, a subsidiary of...
Brazil’s Vale to divest troubled coal assets in Mozambique
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...
