Volcan Investments Ltd, the family trust of Vedanta Resources Plc. founder Anil Agarwal, is considering a plan to acquire control of Anglo American Plc’s South African business by merging Vedanta Resources with the...
Anrak Insolvency: RBI moves Hyderabad High Court to lift stay
The Reserve Bank of India (RBI) has moved the Hyderabad High Court seeking to permit State Bank of India to go ahead with insolvency proceedings against Anrak Aluminium, an Indo-UAE joint venture. In March, the high...
Vedanta chairman offers $1 billion to take Indian miner private
Chairman Anil Agarwal’s family trust plans to offer around $1 billion in cash to take London-listed Vedanta Resources Plc private, the Indian company said, as it grapples with the aftermath of deadly protests at home...
Australia’s Atlas Iron backs Rinehart’s $287 million buyout offer
Australian iron ore miner Atlas Iron (AGO.AX) on Friday endorsed a A$390 million ($287 million) buyout from billionaire Gina Rinehart’s Hancock Prospecting, taking the mining heiress closer to gaining greater access to...
Australia’s Mineral Resources says will not make counterbid for Atlas Iron
Mining infrastructure provider Mineral Resources (MIN.AX) on Wednesday said it would not make an offer to counter Hancock Prospecting’s A$390 million ($288 million) bid for Australia’s Atlas Iron (AGO.AX). That will...
After Air India failure, govt now hoping to offload stake in Coal India
Prime Minister Narendra Modi’s administration is planning to offload a stake in state-run Coal India Ltd to speed asset sales after a disastrous attempt to find a buyer for the cash-strapped national airline, people...
Insolvency: Arun Jagatramka’s Gujarat NRE Coke proposes revival scheme
In one of the first cases, Arun Jagatramka, promoter of Gujarat NRE Coke, has proposed a revival scheme under the Companies Act, 2013, even as the firm is undergoing liquidation under the Insolvency and Bankruptcy Code...
Australia’s South32 bids $1.3 billion for rest of Canada’s Arizona Mining
Australia’s South32 Ltd has bid $1.3 billion to take full control of Arizona Mining, offering a hefty premium for the Toronto-listed firm which is developing zinc, lead, manganese and silver assets. The offer of C$6.20...
Ferro Alloys may end up in liquidation; NCLT to pass judgment on July 12
After months of deliberations on resolution plans and various cases in the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT), Ferro Alloys Corp of India may finally end up...
Australia’s Fortescue Metals takes stake in Atlas Iron, may not support buyout
Australia’s Fortescue Metals Group (FMG.AX) said on Thursday it has built up a 19.9 percent interest in small iron ore miner Atlas Iron Ltd (AGO.AX), giving it a large enough stake to block a takeover of Atlas by...
BHP-Mitsubishi JV to sell Australia coal mine to Japan’s Sojitz
Global miner BHP Billiton (BHP.AX) said on Wednesday that its joint venture with a unit of Mitsubishi Corp (8058.T) would sell a coal mine in Queensland in Australia to Japan’s Sojitz Corp (2768.T) for A$100 million...
Rio Tinto in talks for $3.5 billion Grasberg copper stake sale
Global miner Rio Tinto Ltd (RIO.AX) confirmed on Wednesday it was in discussions to sell its interest in the world’s second largest copper mine to Indonesia’s Inalum for $3.5 billion. No agreement has been reached and...
