The Centre may opt to retain a part of its remaining stake in Hindustan Zinc Ltd (HZL) for an extended period, instead of divesting its entire stake, as the potential investors have expressed their preference for the...
Vedanta encumbers stake in HZL to raise Rs 1,500 cr in loans
Anil Agarwal-led resources conglomerate Vedanta has encumbered a part of its stake in Hindustan Zinc (HZL) to raise Rs 1,500 crore in loans against those shares at more than 50% margin to their market value, Vedanta...
Australian court approves BHP’s $6.4 billion OZ Minerals takeover
Global miner BHP Group Ltd said the Federal Court of Australia had approved its A$9.6 billion ($6.44 billion) takeover of OZ Minerals Ltd. The court approval follows overwhelming support from OZ Minerals shareholders...
Lundin Mining buys 51% stake in Chile’s Caserones mine for $950 mln
Lundin Mining Corp said it would buy a majority stake in Chile’s Caserones copper mine for about $950 million to expand the Canadian miner’s exposure to the red metal crucial for the green energy transition...
Vedanta denies talks of stake sale, calls them ‘untrue’, ‘baseless’
Vedanta Ltd on Thursday termed any talks of sale in oil-to-metals conglomerate as “untrue and baseless.” This comes in the wake of news report which said that mining mogul Anil Agarwal is contemplating...
LIC pares stake in NMDC for about Rs 705 crore
Life Insurance Corporation (LIC) has reduced its exposure in state-owned NMDC to 11.69% from 13.69% earlier through open market transaction. The deal was executed at an average price of Rs 119.37 per share. LIC has...
Govt’s HZL stake sale only after clarity on proposed global asset transfer; unlikely this fiscal
The sale of the remaining 29.54 per cent government stake in Hindustan Zinc is likely only after a finality reached on Vedanta’s planned sale of global zinc assets to the erstwhile PSU, according to an official...
Metals logistics platform MineHub to acquire Waybridge for $2.5 mln in shares
Canada’s MineHub Technologies Inc, which has digitised trade finance and logistics in metals and mining, agreed to buy rival Waybridge for $2.5 million in MineHub shares, the firms said on Thursday. Online...
India opposes Vedanta’s $3 bln zinc assets sale, threatening debt-cut plans
Vedanta Resources’ efforts to manage its debt load were dealt a blow after the Indian government opposed the mining conglomerate’s proposed $2.98 billion deal to move certain zinc assets from its flagship...
Hindustan Zinc to get in touch with mines ministry for resolution on acquisition of Vedanta’s overseas assets
Hindustan Zinc is planning to get in touch with the mines ministry to resolve the differences over the acquisition of overseas assets of holding company Vedanta Ltd, Hindustan Zinc CEO Arun Misra said. Valuation of the...
Government against $3 billion Vedanta international zinc business sale to Hindustan Zinc
The government has raised objections to Vedanta Resources’ proposal to sell its international zinc assets for nearly $3 billion to Indian subsidiary Hindustan Zinc (HZL), people aware of the development told ET...
Govt receives representations to merge RINL with SAIL or NMDC: Minister Kulaste
The government has received various representations to merge RINL with SAIL or NMDC, Parliament was informed on Monday. At present, Rashtriya Ispat Nigam Ltd (RINL) has a strength of 4,875 executives and 10,005 non...
