The Washington Companies said on Sunday it had previously made a proposal to acquire all of the outstanding common stock of mining company Dominion Diamond Corp. (DDC.TO) for $13.50 a share. The all-cash $1.1 billion...
Anil Agarwal defends Vedanta’s move to buy stake in Anglo American
Metals-to-mining magnate Anil Agarwal has explained his decision to acquire a majority stake in international mining company Anglo American, a move that surprised analysts earlier this week. “I like Anglo’s...
Why did Anil Agarwal buy a part of $23 billion Anglo American
Billionaire metals maven Anil Agarwal made a surprise bid for as much as 13% of British mining giant Anglo American Plc for $2.4 billion, a move that will give him a foot in the door of the $23-billion conglomerate...
Vale to get $733 million by month-end from Moatize stake sale to Mitsui
Brazilian mining company Vale SA said on Wednesday it is nearing conclusion of a deal to sell a stake in Mozambique’s Moatize coal project to Japan’s Mitsui & Co Ltd. Vale said it expects to receive by...
Indian billionaire Anil Agarwal to invest up to $2 billion in Anglo American
Indian billionaire Anil Agarwal said on Wednesday he would buy a stake of up to $2 billion in Anglo-American but had no intention of trying to take control of the global miner. Agarwal, who has majority control of...
Hindustan Zinc to invest Rs 1k cr
Hindustan Zinc, one of the lowest-cost zinc producers in the world, will be investing another Rs 1,000 crore to set up two more zinc fumer plants over the next two-three years, a source close to the development said. A...
Mahanadi Coalfields approves Rs1,617 crore share buyback plan
The board of Mahanadi Coalfields Ltd has agreed to release Rs1,617.06 crore in cash through a share buyback, almost Rs600 crore more than it had agreed to release in June last year, Coal India Ltd (CIL) said on...
Vedanta to invest $10 bn on expanding business
Metals and mining conglomerate Vedanta will invest USD 10 billion in 3-4 years on expanding business across verticals, company’s Chairman Anil Agarwal said. He also said the merger of Cairn IndiaBSE 0.94 % and...
Glencore agrees $960 million copper and cobalt deal with Fleurette
Glencore has increased its hold on Democratic Republic of Congo’s copper and cobalt resources by buying the remaining stake in the Mutanda mine from resource group Fleurette and increasing its share in Katanga for...
Government likely to divest upto 10 per cent in Coal India
The government plans to divest up to 10 per cent in Coal IndiaBSE -1.79 % by August, a move that will help it earn about Rs 20,000 crore at today’s prices and reduce its stake to 69 per cent. The government is likely to...
Gold Miners Burned by Bad Deals Are Again Rushing to M&A
It’s been a dirty word in the gold-mining industry for the last three years, but now companies can’t stop saying it: growth. Top executives are on the hunt for mergers and acquisitions, and focusing on exploration as...
Rio Tinto Should Hold the Dividends and Buy Alcoa Instead
What’s the point of assembling mining’s best balance sheet if you’re not allowed to trash it once in a while? Rio Tinto Group has worked hard to set its house in order as the last decade’s...
