Canadian precious metals producer SSR Mining said it would to buy Alacer Gold in an all-stock deal valued at C$2.41 billion ($1.72 billion), adding heft as gold prices surge due to demand for the yellow metal in an...
Mining
Albemarle expresses interest in Tianqi’s stake in Greenbushes lithium mine
Albemarle Corp said on Thursday it was interested in buying all or part of Tianqi Lithium Corp’s controlling stake in Australia’s Greenbushes, the world’s largest lithium mine. Already the world’s largest producer of...
Copper smelter Aurubis gets EU approval for Metallo takeover
Europe’s biggest copper smelter Aurubis won European Union antitrust approval on Monday for its planned 380 million euro ($412 million) acquisition of Belgian-Spanish metal recycling group Metallo, the European...
As bond yields shoot to 60% on Vedanta Resources, MFs look to sell Indian subsidiary
Weakness in outlook for commodity sector and fears due to metals producer Vedanta Resources Ltd’s balance sheet strength seems to have spooked buyers of the company’s corporate bond paper. Yields on Vedanta...
Aurubis to win EU approval for Metallo takeover – sources
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...
