Canada’s Lundin Mining Corp said on Monday it plans to make an offer to buy base metals company Nevsun Resources Ltd for about C$1.4 billion ($1.07 billion), its second proposal in three months. Lundin offered C$4.75...
Mining
Indonesia’s Inalum secures $5.2 billion financing for Freeport deal: sources
Indonesia’s state-owned miner Inalum has secured $5.2 billion in financing from 11 foreign and local banks, according to sources with knowledge of the matter, to be used in part to buy a majority stake in the Grasberg...
Indonesia to announce Freeport acquisition structure: source
Indonesia is set to announce later on Thursday the details of a deal to acquire a majority stake in the local unit of U.S. copper miner Freeport McMoRan Inc (FCX.N), a source with knowledge of the matter said. The...
Cairn Energy says I-T department sells $216 million of Vedanta shares
British energy firm Cairn Energy Plc on Monday said the Indian government had sold some of the shares it owned in Vedanta Ltd, which were earlier attached in a tax dispute, for $216 million. The Edinburgh-based company...
Vedanta weighs $7 billion merger with Anglo American South Africa
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...
