Vale SA’s (VALE5.SA) board approved on Thursday a definitive swap ratio of 0.9342 common share per preferred stock as part of a plan to transform the world’s No. 1 iron ore producer into a company with...
Liberty House bids to buy iron ore assets in Minnesota
British metals group Liberty House is bidding to buy U.S.-based Mesabi Metallics Co LLC and ESML Holding Inc, as it seeks to boost its presence in North America. The bid is being made by GFG Alliance, a group that...
Vedanta’s financial flexibility improves with merger: S&P
Mining mogul Anil Agarwal’s Vedanta Ltd will get access to USD 4 billion of cash and another about USD 700 million a year following the merger with Cairn IndiaBSE -4.51 %, supporting repaying of USD 9 billion...
Runaya Metsource to form precision applications JV with Rusal
Runaya Metsource, funded by Vedanta Group’s ‘principal shareholders’, and Russian aluminium billionaire Oleg Deripaska’s Rusal are creating an equal joint venture for precision applications, such as rocket fuels, solar...
CIL mulls acquiring coking coal mines in Australia
World’s largest coal miner CILBSE -1.34 % is planning to acquire coking coal mines in Australia as it looks to supplement the requirement of country’s metallurgical coal. “The government of Australia...
China’s Shandong in advanced talks to buy half of Barrick’s Veladero mine: sources
China’s Shandong Gold Mining Co Ltd (600547.SS) is in advanced talks to buy a 50 percent stake in Barrick Gold Corp’s (ABX.TO) (ABX.N) Veladero gold mine in Argentina, people familiar with the process told...
Glencore to sell 51 percent of oil products storage business
Swiss-based trading and mining giant Glencore has agreed to sell a 51 percent stake in its oil products and logistics business for $775 million to China’s HNA Innovation Finance Group Ltd, the company said on...
Vedanta’s Anil Agarwal not eying Anglo American assets in South Africa
The chairman of Indian miner Vedanta Resources said on Wednesday he had no plans to buy assets in South Africa from Anglo American or push for a board seat after announcing plans to buy a 13 percent stake in the mining...
Grupo Mexico to buy Florida East Coast Railway $2.1 billion
Mexican miner Grupo Mexico (GMEXICOB.MX) said on Tuesday it had agreed to acquire Florida East Coast Railway for $2.1 billion, a rare acquisition that comes as U.S. President Donald Trump has been trying to renegotiate...
Cairn-Vedanta merger gets all approvals except from RBI
Natural resources major Vedanta said on Tuesday it has received all approvals for its merger with subsidiary energy firm Cairn India, except the Reserve Bank of India’s (RBI) permission for issuing redeemable...
Miner South32 to buy back $500 million of its shares
South32 Ltd (S32.AX) said on Monday it would return $500 million to shareholders, rewarding investors who had been waiting for the company to use its strong balance sheet and cash flows on bigger payouts or acquisitions...
Dominion Diamond, Stornoway held merger talks: sources
Dominion Diamond Corp (DDC.TO) (DDC.N) and fellow Canadian diamond miner Stornoway Diamond Corp (SWY.TO) have held talks about a potential merger in recent months, people familiar with the matter said on Monday. World...
