Vedanta Resources Ltd on Thursday said it has raised $1.4 billion (around Rs 10,500 crore) via bonds, which would be primarily used to fund the delisting of its Indian flagship firm. “Vedanta Resources Ltd (VRL)...
Mining
Australia’s South32 to sell manganese alloy smelter TEMCO to UK’s GFG Alliance
Australian diversified miner South 32 Ltd said on Thursday it would sell its entire stake in manganese alloy smelter Tasmanian Electro Metallurgical Company (TEMCO) to UK-based conglomerate GFG Alliance. GFG will...
K+S shortlists billionaire, private equity for Morton Salt sale: sources
German minerals miner K+S has shortlisted hedge fund billionaire James Simons’ family office as well as private equity firms for a sale of its $2 billion Morton Salt business, people familiar with the matter said. K+S’s...
Brazil’s BNDES raised $1.5 billion with sale of Vale shares: source
Brazil’s state-controlled development bank BNDES raised 8.1 billion reais ($1.53 billion) by selling 135 million shares in miner Vale SA in an auction on Tuesday morning, a source familiar with the matter said. After...
Vedanta Group’s Gen Z in JV with Australian firm to make mining products
Runaya, a metals start-up founded by the sons of Vedanta Ltd Vice-chairman Navin Agarwal, has signed a joint venture (JV) pact with Minova, a wholly-owned division of Australia-based Orica, to manufacture niche products...
ArcelorMittal completes Rs 2,350-cr acquisition of Odisha Slurry Pipeline Infrastructure
ArcelorMittal, the world’s biggest steelmaker, has completed its Rs 2,350-crore acquisition of Odisha Slurry Pipeline Infrastructure after paying lenders the full principal amount, securing a crucial asset for its newly...
U.S. rare earths miner MP Materials to go public in $1.47 billion deal
U.S. rare earths miner MP Materials will go public in a $1.47 billion deal by merging with a private-equity backed blank-check company, underscoring Wall Street’s rising interest in efforts to boost production of the...
Board of Canada’s Cornerstone rejects BHP-backed SolGold’s offer for second time
The board of Cornerstone Capital Resources Inc on Tuesday rejected BHP-backed SolGold Plc’s takeover offer for the second time, saying it undervalued the Canadian copper and gold miner. “For the second time, the Board...
Nord Gold SE launches takeover bid for Cardinal Resources
Nord Gold SE on Wednesday offered to buy all shares in Ghana-focused gold miner Cardinal Resources Ltd it does not already own, valuing the Australian-listed company’s equity at A$347 million ($243 million). The UK...
GFG Alliance is keen on acquiring more stressed assets from India: Sanjeev Gupta
The Gupta Family Group Alliance, led by UK-based Sanjeev Gupta, is keen on investing and acquiring more stressed assets in the metals and mining space in India. The group entered the country earlier this year, acquiring...
BHP-backed SolGold makes second attempt on Canada’s Cornerstone
BHP-backed SolGold Plc, the copper-gold company focused on Ecuador, is making a second attempt to take over Canada’s Cornerstone Capital Resources, whose largest shareholder said the approach is likely to be rebuffed...
BHP puts Australian thermal coal mine up for sale: sources
The world’s largest mining company BHP Group has hired Macquarie Bank and JP Morgan to sell its Australian thermal coal mine, three sources said, as miners face increasing pressure to reduce their exposure to fossil...
