Black Box acquires privately held Quanta Systems from CompuDyneOctober 5th, 2009 Black Box buys Quanta SystemsCommunications equipment company Black Box Corp. said Monday that it bought privately held Quanta Systems LLC.
Sterlite revises bid amount for AsarcoSeptember 11th, 2009 MUMBAI - Sterlite Industries, with interest in non-ferrous metals and mining, Friday said it has revised its offer for purchase of US-based copper miner Asarco to $2.56 billion from its earlier bid of $2.13 billion. "After extensive discussion and review, in order to provide full cash payment to asbestos creditors, Sterlite increased its offer from $2.13 billion to $2.56 billion cash," the company said in a regulatory statement.
Canada's Eldorado Gold to acquire rest of Sino Gold Mining for $1.8B in stockAugust 26th, 2009 Eldorado to acquire rest of Sino GoldVANCOUVER, British Columbia — Canada's Eldorado Gold Corp. says it has agreed to buy all remaining shares of Australia's Sino Gold Mining Ltd.
Sterlite hikes offer for US-based AsarcoAugust 20th, 2009 MUMBAI - Sterlite Industries, a leading metals major and part of Anil Agarwal's Vedanta Group, Thursday said it has hiked by $500 million its offer to purchase the assets of Asarco, the Texas-based bankrupt miner, smelter and copper refiner. "With this announcement, the revised bid will increase to $2.1 billion in cash, the company said in a regulatory statement.
Controversial Vedanta University gets Orissa assembly nodJuly 30th, 2009 BHUBANESWAR - The Orissa assembly Thursday passed a controversial bill proposing a Rs.150-billion university in the state to be promoted by NRI billionaire and chairman of Britain's Vedanta Resources Anil Agarwal. The bill was passed through a voice vote after the government agreed to make some modification as sought by some ruling as well as opposition members.
Vedanta to go ahead with mining sacred Orissa hillJuly 28th, 2009 LONDON - British mining giant Vedanta said Tuesday it is going ahead with plans to mine a bauxite-rich hillside in Orissa considered sacred land by local tribals, and urged two international NGOs to give up their protest campaign. "We are proceeding with the mining plans but there are still a few permissions that need to be granted," Zoe Watt, a spokeswoman for Vedanta Resources, told IANS after a high-profile protest at the Annual General Meeting of shareholders in London Monday.
Orissa's anti-mining protests reach DelhiJuly 27th, 2009 NEW DELHI - Members of Orissa's Kondh tribe Monday gathered for a candle light vigil in the capital, urging Prime Minister Manmohan Singh to stop mining of the bauxite-rich Nyamgiri hills in their state. According to the tribesmen and others supporting them, the mining of the Niyamgiri hills will lead to massive deforestation, affect water resources, destroy the local ecosystem and endanger wild animals commonly found in the area like tigers, leopards and elephants.
Disinvestment of Coal India on cards, discloses ministerJune 16th, 2009 NEW DELHI - The government is considering divesting up to 10 percent stake in the state-run Coal India Ltd, the country's largest coal miner, Coal Minister Sriprakash Jaiswal said here Tuesday. "We are working on a proposal to disinvest 5 to 10 percent stake in Coal India.
Vedanta committed to completing Orissa projects: AgarwalJune 6th, 2009 BHUBANESWAR - Britain-based Vedanta Resources, which has invested over Rs.25,000 crore (Rs.250 billion) in different projects in Orissa, was committed to completing all planned projects in the state, its chairman Anil Agarwal said here Saturday. "We have taken a decision for Orissa.
MSE Earthstone resources acquires 100% economic rights of coal tenement in IndonesiaMarch 19th, 2009 JAKARTA - MSE Earthstone Resources FZC, part of Earthstone Group, a diversified mining company, today announced the acquisition of 100% economic rights for coal tenement extensively spread over 2,560 Hectares in the thermal coal resource region of Melabouh, Aceh, North Sumatra, Indonesia. The Indonesian Department of Mining granted a three-year Kuasa Pertambangan (a mining right) license to PT Bara Bina Perkasa early this month.
GMR Energy acquires 33 percent stake in Canadian companyFebruary 25th, 2009 NEW DELHI - GMR Energy Ltd has acquired 33.5 percent stake in Canada-based Homeland Energy Group (HEG), it was announced Tuesday. HEG has strategic interests in coal projects in South Africa and other parts of the world.
Vedanta plans to acquire entire shares of Madras AluminiumJanuary 19th, 2009 CHENNAI - Contrary to its earlier restructuring plans for Madras Aluminium Co (Malco), the Vedanta group has decided to acquire the entire shareholding of the Salem-based firm and perhaps delist the scrip. In a regulatory statement to the National Stock Exchange Tuesday, Malco said its holding company, Vedanta subsidiary Twinstar Holdings with a controlling 80 percent stake, has proposed to acquire the remaining 20 percent as per the market regulator's guidelines on delisting of securities.
Maytas Infra CEO quitsJanuary 18th, 2009 MUMBAI - Maytas Infra chief executive P.K. Madhav has resigned, the company announced Monday.
Mining by NRI-owned British firm triggers protests in OrissaJanuary 16th, 2009 BHUBANESWAR - Hundreds of tribals armed with bows and arrows Saturday marched in an Orissa district protesting against mining in a hilly area by a British firm owned by an NRI. The tribals assembled at Semelbhata village in Kalahandi district and marched some five km shouting slogans against Britain's Vedanta Resources and the state and central governments, police said.
Vedanta vows to complete its projects in OrissaJanuary 2nd, 2009 BHUBANESWAR - NRI industrialist and chairman of Britain’s Vedanta Resources Anil Agarwal Saturday said his group will complete all its projects in Orissa despite the credit crunch. 'I assured Chief Minister (Naveen Patnaik) that we will complete our projects,' Agarwal told reporters after talks with the chief minister and senior state government officials here.
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