Coal India plans to submit binding bids for acquiring stakes in coking coal assets in Australia and Canada by March 2020. The firm is in the process of appointing merchant bankers for the assets it has identified. The...
Mining
Mitsubishi sells Australian iron ore, rail project to Sinosteel
Mitsubishi Corp has handed over the full ownership of an iron ore expansion and rail and port infrastructure project in Western Australia to China’s state-owned Sinosteel that has been slated to cost A$10 billion ($6.86...
Australia’s Stanmore Coal says Winfield scraps takeover, shares drop
Stanmore Coal Ltd on Thursday said that Winfield Energy had decided to scrap its proposed takeover of the company as the Brisbane-based miner failed to engage with key shareholders, causing Stanmore’s shares to drop...
Indonesia state miner signs initial agreement to buy 20% stake in Vale Indonesia
State mining holding company Mining Industry Indonesia, previously known as Inalum, said in a statement on Monday it had signed an initial agreement with shareholders of nickel miner PT Vale Indonesia to buy a 20% stake...
Russia’s Mechel to pay $461 million for stake in Elga coal project: sources
Russian steel and coal producer Mechel agreed to pay around 30 billion roubles ($461 million) for Gazprombank’s 34% stake in the Elga coal project, two sources familiar with the matter told Reuters on Thursday. Elga is...
European Commission clears Novelis’s acquisition of Aleris
Aluminium rolling and recycling company Novelis Inc., a wholly owned subsidiary of Hindalco Industries Ltd, said on Tuesday that the European Commission has approved its proposed acquisition of US-based Aleris Corp, a...
Rio Tinto scraps plans for Canadian iron ore unit sale, floatation – WSJ
Anglo-Australian miner Rio Tinto PLC has cancelled plans for the sale or floatation of its Canadian iron ore business, following unsuccessful attempts to find buyers, the Wall Street Journal reported on Sunday. Rio...
Copper miner First Quantum Minerals draws takeover interest: Bloomberg
Canadian copper miner First Quantum Minerals Ltd is drawing preliminary takeover interest from global miners after losing half its value over the past five years, Bloomberg reported on Thursday. The company, which is...
Anglo American Platinum completes buyout of prospecting rights from Atlatsa
Anglo American Platinum (Amplats) said on Tuesday its subsidiary Rustenburg Platinum Mines (RPM) had completed the acquisition of the Kwanda North and Central Block prospecting rights for 300 million rand from Atlatsa...
NCLT asks Jayaswal Neco, SBI to furnish details of SC petition
The dedicated bankruptcy court has asked Jayaswal Neco Industries Ltd and its lender, the State Bank of India (SBI), to give details about the petition filed by the company in the Supreme Court to stay the insolvency...
Australia’s Argosy Minerals buys Nevada-based Tonopah lithium project
Lithium-focused explorer Argosy Minerals Ltd on Wednesday said it has executed an agreement to buy tenements comprising the Tonopah Lithium Project in Nevada, United States. Argosy said the sale agreement was executed...
Government begins process to auction 27 coal mines
The government on Monday said it has begun the process of auction of 27 coal mines and allotment of 15 blocks to public sector undertakings. “The Ministry of Coal has started the process of auction of 27 coal...
