Glencore has sold its minority stake in Yancoal Australia, the company confirmed on Wednesday, finally ending its time at the coal business that it’s been trying to exit for years. “Glencore can confirm it...
Bankruptcy court okays Orissa Metaliks’ revival plan for MSP Metallics
The dedicated bankruptcy court has approved a revival plan submitted by Orissa Metaliks Pvt Ltd (OMPL) for the integrated steel manufacturer MSP Metallics Ltd. Kolkata-based OMPL is paying about Rs 800 crore, whereas...
Holcim acquires Teko Mining in Serbia
Holcim has bought Teko Mining, a Serbian-based producer of aggregates, the Swiss building materials maker said on Tuesday. Teko, which has estimated 2022 sales of 20 million euros ($20.03 million), sells 2.4 million...
Centre seeks bids from i-bankers to assist stake sale in Hindustan Zinc
The Centre has sought bids from merchant bankers to assist the government in offloading its 29.5 per cent residual stake in Hindustan Zinc (HZL) in tranches. The Centre’s 29.5 per cent stake in HZL is valued at around...
Vedanta acquires debt ridden Athena Chhattisgarh Power for Rs 565 cr
Mining major Vedanta said it would acquire debt-ridden Athena Chhattisgarh Power for Rs 564.67 crore in an all-cash transaction. The liquidation process for the company was initiated in March last year. According to...
Russia tycoon Vladimir Potanin agrees to Nornickel-Rusal merger talks
Billionaire Vladimir Potanin, the biggest investor in MMC Norilsk Nickel PJSC, said he’s ready to discuss merging the mining giant with United Co Rusal International PJSC as sanctions against Russia weigh on...
Australian gold miner Genesis in merger talks with rival St Barbara
Gold miner Genesis Minerals said it was in talks with larger rival St Barbara Ltd to consolidate operations in the Leonora district of resource-rich Western Australia. A potential combination would give Genesis control...
Fiat owner Stellantis to invest $52 mln in Vulcan Energy for 8% stake
Vulcan Energy Resources said Dutch automaker Stellantis NV would buy an 8% stake for A$76 million ($52.49 million), sending the lithium miner’s shares more than 24% higher. Australia-headquartered Vulcan will...
Got multiple EoIs for FSNL disinvestment: DIPAM Secy
The Secretary of the Department of Investment and Public Asset Management (DIPAM) on Monday tweeted that multiple expressions of interest (EoIs) have been received for the strategic disinvestment of Ferro Scrap Nigam...
Vedanta pledges 5.77% stake in Hindustan Zinc for Rs 8,000 crore term loan
Vedanta Ltd said it has pledged 5.77 per cent stake in Hindustan Zinc Ltd for a term loan of Rs 8,000 crore. The announcement comes days after the Cabinet Committee on Economic Affairs (CCEA) approved the...
Coal India to divest 25% stake in BCCL; plans subsequent listing
State-owned CIL said it is planning to divest 25 per cent stake in its unlisted arm Bharat Coking Coal Ltd (BCCL) and will go for the subsequent listing of the subsidiary on stock exchanges after obtaining further...
Yancoal Australia parent explores potential buyout bid
Coal producer Yancoal Australia Ltd’s, parent and major shareholder Yankuang Energy Group was planning to acquire the remaining shares of the company that the Chinese group does not already own, it said late on...
