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...
Mining
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...
Indonesian state miner completes 20% stake buy in Vale unit for $375 million
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...
