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...
Mining
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...
GOCL Corp’s UK subsidiary to sell partial stake in Quaker Chemical for $35 mn
Hinduja Group firm GOCL Corporation on Monday said the company, through its UK subsidiary, has decided to divest 2,00,000 shares of Quaker Chemical Corporation, little less than half of its total holding, for USD 35...
Australia’s New Century scraps acquisition of Vale’s Pacific island projects
Australian zinc miner New Century Resources Ltd said on Tuesday it will not proceed with the acquisition of Vale Nouvelle-Caledonie’s (VNC) nickel and cobalt mines on the Pacific island of New Caledonia, knocking...
NMDC board okays demerger of three-mn-tonne Chhattisgarh steel plant
India’s single largest iron ore producer, state-owned NMDC, said on Friday that its board had approved a proposal to demerge NMDC Iron & Steel Plant (NISP). The board met on Thursday and accorded in-principle...
NMDC’s Board approves demerger of iron and steel plant in Chhattisgarh
The board of directors of the state-owned iron ore producer, NMDC Ltd, has approved the proposal to demerge its 3 million tonne Iron & Steel Plant in Nagarnar, Chhattisgarh. “The Board of Directors of the Company at...
