Cairn India Holdings, a subsidiary of Vedanta, bought a stake in Anglo American from Volcan Investments, a family trust of promoter Anil Agarwal. The investment was made in the December quarter, according to Vedanta’s...
Mining
ArcelorMittal’s bid to buy stake in Bosnian iron ore mine rejected
ArcelorMittal’s application to bid for the Bosnian government’s stake in the Ljubija iron ore mine has been rejected over procedural issues, prompting the world’s largest steelmaker to warn of risks to the future of...
Singapore’s GEAR fails to win bid for Stanmore Coal
Singapore’s Golden Investments said on Wednesday that it will seek a board position at Australia’s Stanmore Coal Ltd (SMR.AX) as its biggest shareholder, despite the failure of a A$240 million ($171 million) takeover...
Australia’s Sandfire approaches MOD Resources with $63 million offer
Copper miner Sandfire Resources (SFR.AX) said on Monday it has approached explorer MOD Resources (MOD.AX) about a potential combination of the two companies, valuing MOD at about A$88 million ($63 million). Sandfire...
Newmont takes top gold producer spot with $10 billion Goldcorp buy
Newmont Mining Corp said on Monday it would buy smaller rival Goldcorp Inc for $10 billion, creating the world’s biggest gold producer in the face of dwindling easy-to-find reserves of the precious metal. The...
Zijin Mining plans to sell $1.2 billion A-shares to fund Nevsun purchase
Chinese gold miner Zijin Mining Group Co Ltd (601899.SS) (2899.HK) said it plans to sell up to 8 billion yuan ($1.16 billion) worth of new shares in Shanghai to help fund its purchase of Canada’s Nevsun Resources Ltd...
Vedanta to move SC against Madras HC to reopen Sterlite copper plant
The Vedanta Group company Sterlite has said it would move the Supreme Court to implement the NGT order to reopen its copper plant in Tuticorin. “The honourable Madras High Court, Madurai Bench, Friday issued...
NCLAT stays insolvency process order against Eastern Coalfields
The National Company Law Appellate Tribunal (NCLAT) has issued a stay order against the National Company Law Tribunal (NCLT)’s order asking for the initiation of corporate insolvency resolution process against Coal...
After tepid stake sale, Centre to receive Rs 32.87 bn more from Coal India
After the centre raised around Rs 84 billion from three rounds of stake sale in Coal India, it will again be receiving another Rs 32.87 billion from this Maharatna enterprise as interim dividend. The company’s board, on...
Indonesia coal miner Bayan completes $163.7 million buy back of Kangaroo Resources
Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) has completed the acquisition of its Australian-listed unit Kangaroo Resources Limited (KRL.AX) in a transaction worth A$226.4 million ($163.7 million), it said in...
China’s Tianqi says stake in Chile lithium miner SQM good for both firms
The chief executive of China’s Tianqi Lithium Corp said she believes investing in Chile’s lithium miner SQM will bring “long-term benefits” for both companies, despite strict conditions set for its involvement by local...
EU’s largest coking coal producer seeks growth through acquisitions
The European Union’s largest coking coal producer JSW (JSW.WA) could increase output by between 2.5 and 3 million tonnes per year by acquiring assets, far exceeding its current plan to grow production to 18 million...
