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...
Newmont makes $16.9 billion offer for Australia’s top gold producer Newcrest
Top gold producer Newmont Corp said it had made a $16.9 billion offer for Australian peer Newcrest Mining Ltd to build a global gold behemoth, although investors and analysts said it undervalued the target amid a...
St Barbara to buy Genesis Minerals in $367 million deal to focus on Leonora gold district
Gold miner St Barbara Ltd (SBM.AX) agreed on Monday to buy smaller peer Genesis Minerals Ltd (GMD.AX) for A$541.3 million ($367.16 million), creating a mid-tier gold producer with a growing foothold in Western...
Glencore to sell Australian copper mine to SPAC for $1.1 bln
Glencore said that blank-check firm Metal Acquisition Corp (MAC) agreed to an amended agreement to buy the global miner’s Cobar copper mine in Australia in a deal valued at $1.1 billion. Glencore said the terms...
Australia’s Coronado Global ends merger talks with Peabody Energy
Australian coal miner Coronado Global Resources said it had ended talks with U.S.-based Peabody Energy Corp for a potential combination of the two companies, less than a month after confirming the discussions. Coronado...
Teck to sell stake in troubled Fort Hills project to Suncor for about $737 mln
Canadian miner Teck Resources Ltd said it has agreed to sell its 21.3% stake in the Fort Hills oil sands project to Suncor Energy Inc for about C$1 billion ($737.19 million) in cash, as it shifts focus to copper from...
