Europe’s biggest copper smelter Aurubis is set to win EU antitrust approval for its planned 380 million euro ($412 million) acquisition of Belgian-Spanish metal recycling group Metallo, people familiar with the matter...
Hindalco’s subsidiary Novelis completes $2.8 bn acquisition of Aleris
Aditya Birla Group metals flagship, Hindalco Industries, on Tuesday announced the completion of Aleris acquisition by its wholly-owned subsidiary Novelis Inc. The deal, which closed at an enterprise value of $2.8...
Aleris acquisition raises concerns over Hindalco’s debt, with profits set to fall
Final clearances to Novelis Inc. for acquiring Aleris Corp. end the overhang over parent Hindalco Industries Ltd’s stock. After a sharp 50% drop so far in 2020, the stock rose 6.6% on Thursday. But the deal may not be...
First Quantum eyes stake sale in Panama mine – sources
Miner First Quantum Minerals is considering selling a minority stake in its flagship Cobre Panama copper mine to reduce debt, two banking sources familiar with the discussions said. First Quantum’s possible move comes...
Russian tycoon buys 49% of Elga coal project, talks to Mechel on 51%
Russian businessman Albert Avdolyan has reached an agreement to buy a 49% stake in the major Elga coal project in Russia from Russian lender Gazprombank, the bank said in a statement on Monday. Avdolyan’s company A...
SC seeks CBI response on providing copy of probe into disinvestment of govt share in Hindustan Zinc
The Supreme Court on Wednesday sought the CBI’s response on providing a copy of its probe report closing the preliminary inquiry into the disinvestment of the government’s share in PSU Hindustan Zinc Limited...
NCLT approves ArcelorMittal’s Rs 2,360 cr bid for Odisha Slurry Pipeline
The National Company Law Tribunal (NCLT) has approved a Rs 2,359-crore bid of ArcelorMittal India for debt-ridden Odisha Slurry Pipeline Infrastructure Ltd (OSPIL). A two-member bench of the NCLT Cuttack gave a go ahead...
JSW Steel declared preferred bidder for Jajang iron ore block in Odisha
JSW Steel on Monday said it has been declared as a preferred bidder for Jajang iron ore block in Odisha. The Sajjan Jindal-led firm has bagged the iron ore mine in the auction of blocks in Odisha. The block holds...
Freeport’s Adkerson does not want to sell Grasberg mine to Barrick
Freeport McMoRan Inc is not interested in selling its Grasberg copper and gold mine in Indonesia, Chief Executive Richard Adkerson said on Monday, tamping down speculation of a deal with Canadian miner Barrick Gold Corp...
Coal India stake sale fetches over Rs 3,200 crore
The government sold nearly 2.91% stake in Coal India Limited (CIL) last week and raised more than Rs 3,200 crore in a subdued stock market. Since April last year, the Centre has pared around 4.82% in the state-owned...
Hindustan Zinc, Balco residual stake sale not off table: DIPAM secretary
India could look at selling residual government stake in Hindustan Zinc and Balco after a Supreme Court decision, a top government official told ET. “The residual stake sales are not off the table. The case is in SC and...
Shanta Gold buys Kenya exploration project from Barrick
Shanta Gold on Monday said it had acquired Barrick subsidiary Acacia Exploration’s project in southwestern Kenya in a $14.5 million deal which gives the Tanzania-focused miner its first asset outside the country. The...
