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...
Mining
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...
Anglo looks to sell Peru copper stake to Japanese firms: sources
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...
