Glencore Plc. might have announced a whopping $2.9 billion dividend, but that doesn’t mean the company’s dealmaking firepower is diminished. “We’re generating $10 billion of free cash flow on current commodity prices,”...
Hindustan Copper plans to raise Rs1,400 crore via QIP
State-run Hindustan Copper said its board on Wednesday approved a proposal to raise Rs1,400 crore by issuing equity shares through qualified institutional placement (QIP). “The Board of Directors of Hindustan Copper Ltd...
Rio Tinto eyes tie-up with Chhattisgarh miners, execs meet CM in Australia
Rio Tinto, one of the world’s leading mining companies, will explore the possibilities of associating with Indian miners to expand its mining operations in mineral-rich Chhattisgarh. The delegation from Chhattisgarh led...
Hindalco’s Aleris acquisition bid may face competition from Vedanta
Mining mogul Anil Agarwal’s Vedanta Resources Plc. is considering a bid for Aleris Corp., a move that may pit it against Hindalco Industries Ltd’s $2.5 billion bid for the US-based aluminium products maker, two people...
Allow honest promoters to bid for assets: Anil Agarwal, Vedanta Group Chairman
Promoters whose debt-laden companies are being auctioned by banks should be allowed to make a bid for their own firm if they have not siphoned off money, said VedantaBSE -1.35 % Group chairman Anil Agarwal, who has...
Russian gold miner Polyus says Fosun stake deal scrapped
Russia’s largest gold miner Polyus (PLZL.MM) said on Monday that plans to sell a 10 percent stake to a consortium led by China’s Fosun International (0656.HK) had been dropped after one of the conditions of the...
NCLT orders shutting NRE Coke but with a twist!
National Company Law Tribunal’s Kolkata chapter has ordered liquidation of Gujarat NRE CokeBSE -2.11 %, a company that failed to resolve the Rs. 4,900 crore default case. But, there is twist! For the first time...
Balasore Alloys to acquire 70% share in Zimbabwe Alloys
Balasore AlloysBSE -2.27 %, a Pramod Mittal group company, has entered into a deal to acquire 70% share of Zimbabwe Alloys consequent upon a scheme of arrangement sanctioned by the High Court of Zimbabwe on December 20...
Singareni Collieries to invest Rs 10K cr on expansion in 5 years
Singareni Collieries Company Ltd (SCCL) will be investing about Rs 10,000 crore during the next five years on expansion programmes with a target to achieve Rs 34,000-crore revenues by then, said a top official. N...
Vale is negotiating BHP exit from Samarco venture: source
Vale SA is in talks with BHP Billiton Ltd over the future of their joint venture, Samarco Mineração SA, and one alternative is for the Brazilian miner to buy out its partner, a source with knowledge of the matter said...
Cairn India buys Japanese LCD Panel co for $158 mn
Anil Agarwal-led VedantaBSE 1.89 % arm Cairn IndiaBSE 0.90 % has acquired controlling stake in AvanStrate, a Japanese manufacturer of LCD glass substrate, with an investment of $158 million, the company informed the...
Australia’s Wesfarmers to sell Curragh coal mine for $539 million
Wesfarmers Ltd (WES.AX) said on Friday it would sell its Curragh coal mine in Queensland to Texas-based Coronado Coal Group for A$700 million ($539 million). Coronado Coal is owned by Texas-based private equity group...
