The world’s largest mining company BHP Group has hired U.S. investment bank JP Morgan to sell its Australian thermal coal mine, following pressure from investors concerned about global warming, two sources said...
Mining
Brazil miner Vale to sell stake in nickel producer to Indonesia’s Inalum
Brazil iron ore miner Vale SA said on Friday in a securities filing that its Canadian subsidiary had reached an agreement to sell a 20% stake in the nickel producer PT Vale Indonesia to state-controlled PT Indonesia...
China’s Shandong Gold to buy Ghana-focused Cardinal Resources for $221 million
Shandong Gold Mining Co, one of China’s biggest gold producers, said on Thursday it would buy Ghana-focused miner Cardinal Resources Ltd for around A$321 million ($221 million) in cash. The deal continues a recent...
Barrick Gold sells majority stake in China’s Shandong for $210 million
Canadian gold producer Barrick Gold said on Tuesday it sold a partial stake in Shandong Gold Mining Co for $210 million, profiting off a rise in share price of the Chinese gold miner. Gold stocks have been steadily...
Govt not to hive off Coal India arm CMPDIL, say unions
Coal India’s union leaders say they have been assured by the government that the company’s exploration, planning and design arm will not be hived off. They said the government is looking at the possibility of making...
BEML to firm up partnerships with Czech, Japanese firms to indigenise tech
BEML Ltd is firming up tie-ups with two foreign companies for setting up joint manufacturing facilities in India. Besides, the state-owned company has also called for global expressions of interest (EOIs) for more tie...
Gold M&A back on the agenda as coronavirus restrictions ease
A lull in corporate takeover activity among gold miners is expected to end as new coronavirus-linked travel restrictions are lifted in coming months, clearing the way for prospective buyers, industry executives and fund...
Coal India arm to see viability of merger of NTPC’s two mines in Chhattisgarh
Coal India’s consultancy arm CMPDIL has been roped in by NTPC to make separate mining plans for Banai and Bhalumuda coal mines in Chhattisgarh with an aim to maximise the extractable reserves by merging operations...
Australia’s New Century takes aim at Vale’s New Caledonia assets
Australia’s New Century Resources Ltd said on Tuesday it was in talks with Brazilian miner Vale SA to buy its nickel and cobalt operations on the Pacific island of New Caledonia. Vale said it received non-binding offers...
Anil Agarwal in talks with banks to raise up to $2.5 bln for Vedanta delisting
Vedanta Ltd’s promoter Anil Agarwal is in talks with several banks to tie up loans worth $2.0 billion-$2.5 billion to help finance the delisting offer of Vedanta. On 12 May, Vedanta Resources, the promoter entity...
Tianqi Lithium parent to sell 6% stake in struggling Chinese firm
China’s Tianqi Lithium Corp, one of the world’s biggest lithium producers, said on Monday its controlling shareholder planned to sell around a sixth of its holding, which could raise more than $200 million in much...
Adani, Essar, Reliance Industries participate in CIL’s CBM pre-bid meeting
Coal India’s Jharia block holds CBM reserves of 25 billion cubic metres and is expected to start production two years after it is initiated. The project is estimated to cost Rs 3000 crore. Adani, Essar and...
