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...
Mining
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...
Vedanta says no pledge on shares, fundraise conditions bar promoters from share sale
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...
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...
