Mining giant Rio Tinto said on Tuesday it will buy Mitsubishi Corp’s 11.65% stake in Boyne Smelters (BSL) for an undisclosed sum. Boyne, which owns and operates the Boyne Island aluminium smelter in Gladstone...
Botswana may raise De Beers stake as Anglo weighs spin-off
The Botswana government may raise its shareholding in global diamond miner De Beers, President Mokgweetsi Masisi told JCK News, after parent company Anglo American said it plans to spin off or sell the business. The...
Vedanta’s demerger plan clears major hurdle with SBI approval
State Bank of India has granted its consent to Vedanta’s proposed demerger that will separate its existing businesses into six independent pure-play companies, two bankers aware of the development said. This...
BHP walks away from $49 billion pursuit of mining rival Anglo
Mining group BHP Group on Wednesday walked away from its $49 billion plan to take over rival Anglo American, which rejected a last-ditch request for more time, ending for now its six-week pursuit. BHP’s aim was to...
BHP will not relent on structure, value of $49 bln Anglo offer, say sources
BHP will stand firm on the structure and value of its latest takeover proposal for Anglo American, focusing instead on allaying its target’s concerns around execution risks over the coming week, sources said on...
Anglo American rejects BHP’s revised $42.7 billion buyout proposal
Anglo American rejected a raised takeover offer of 34 billion pounds ($42.67 billion) from BHP Group on Monday, saying the world’s largest listed miner “continues to significantly undervalue” the...
Vedanta acquires Japan’s AvanStrate, buys additional stake for $78 million
Billionaire Anil Agarwal-led Vedanta Ltd on Friday said it has acquired an additional 46.57% stake in Japanese display major AvanStrate Inc for $78.3 million through its wholly owned subsidiary, Cairn India Holdings Ltd...
Rio Tinto had considered a bid for BHP-target Anglo American, AFR reports
Mining giant Rio Tinto had considered an offer for British miner Anglo American, which is now BHP Group’s $39 billion takeover target, the Australian Financial Review reported on Friday. Rio “management had...
Canadian miner Hudbay sees BHP’s bid for Anglo boosting copper assets
The CEO of Canadian miner Hudbay Minerals said BHP Group’s $39 billion offer for Anglo American has increased the valuation of copper assets and could underscore companies’ willingness to pay a premium to...
Sandur Manganese to foray into speciality steel with buyout of Arjas Steel
Sandur Manganese and Iron Ore is foraying into the speciality steel sector in India with the buyout of Arjas Steel, which is among the top five producers of speciality steel products in the country. Sandur Manganese...
Vedanta demerger likely to get nod from lenders by May end
Key lenders are likely to give their approval for the revenue stream-wise demerger of Vedanta by the end of May, a senior executive at the natural resources conglomerate told ET. “Right now, the file is with Sebi...
Anglo American receives BHP buyout proposal, could reshape copper market
London-listed miner Anglo American said on Thursday it had received an all-share buyout proposal from BHP Group, a deal that would create the world’s biggest copper miner churning out around 10% of global output...
