Anglo American (AAL.L) is likely to sell up to 30 percent of its multi-billion dollar Peruvian copper project Quellaveco to Japanese entities, including Mitsubishi, which already own part of it, three sources familiar...
Government approves restructuring of Indian Bureau of Mines
The government today approved the restructuring of Indian Bureau of Mines to reform the mineral sector regulation. The restructuring would enable the adoption of IT and space technology by the bureau to improve its...
Contura, Alpha to merge, creating largest U.S. met coal producer
Contura Energy Inc (CNTE.PK) and Alpha Natural Resources Holdings Inc (APNR.PK) said on Monday they agreed to merge, creating the largest U.S. producer of metallurgical (met) coal, used in steelmaking, and reuniting the...
Resolution professional may try to stop liquidation of Adhunik Metaliks
Adhunik Metaliks, which is staring at liquidation, may get a breather as the Resolution Professional (RP) is set to urge before the NCLT on May 1 to scrap up to 25 days from the mandated 270-day resolution deadline. The...
Thriveni Earthmovers bid rejected, Lanco Infratech may be headed for liquidation
Lanco InfratechNSE -5.00 % could end up going into liquidation with bankers rejecting the highest offer made by Thriveni Earthmovers. The resolution plan got just 16% support from the committee of creditors, people...
NCLT adjourns Monnet Ispat case hearing till May
The Mumbai bench of NCLT on Wednesday adjourned until May 4 the hearing on the resolution plan for Monnet IspatNSE -4.97 % and Energy, with the judge seeking clarity from the resolution professional’s counsel on a few...
Any move on Facor liquidation only after NCLT ruling
Any move to liquidate Facor, one of India’s oldest producers of ferro alloys undergoing insolvency resolution, can be implemented only after the National Company Law Appellate Tribunal (NCLAT) rules on Facor’s appeal...
Facor may go into liquidation as creditors reject all resolution plans
Facor, one of India’s oldest producers of ferroalloys, is likely to be liquidated after the NCLT Kolkata bench was informed on Monday that its Committee of Creditors has rejected all bids. Facor has been under...
Rio Tinto exits coal with $2.25 billion Kestrel sale
Global miner Rio Tinto sold its remaining coal mine in Australia for $2.25 billion, making good on a pledge to exit the fuel and boosting its ability to fund future buybacks or higher dividends. The sale of Rio’s stake...
Nalco eyes bauxite assets in Guinea, to send team to evaluate opportunity
National Aluminium Company (Nalco) is looking at the possibility of gaining access to bauxite deposits in Guinea. The West African country is home to a third of the world’s reserves, with an estimated 40 billion tonnes...
Adhunik group company gets new life after NCLT order
The National Company Law Tribunal has dismissed an Odhisa order that had sought the stoppage of mining activity at Orissa Manganese & Minerals, giving a fresh lease of life to the Adhunik group company that faces Rs...
Australia’s Newcrest buys stake in Canada’s Lundin Gold for $250 million
Newcrest Mining Ltd said on Monday it had invested $250 million to buy a 27.1 percent stake in Canadian miner Lundin Gold Inc as the gold major ramps up its exposure to Ecuador to secure growth. The stake is part of a...
