🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

Abu Dhabi's IHC arm offers to acquire Vedanta Resources' Zambian copper business

VCCircle

VCCircle · 1y ago

Abu Dhabi's IHC arm offers to acquire Vedanta Resources' Zambian copper business

Abu Dhabi's International Resources Holding (IRH) has made an offer of over $1bn to acquire a 51% stake in Vedanta Resources' Zambian copper assets. IRH aims to expand its copper mining business in Africa and is already planning to bid for a stake in Lubambe Copper Mine. The offer is non-binding and talks are ongoing, with Vedanta potentially reluctant to give up a majority interest. UAE and Saudi Arabia aim to secure metal supplies from Africa to participate in the green energy transition.

Related News

Vedanta in talks with IHC unit, investors for Zambian copper stake sale

VCCircle

VCCircle · 1y ago

Vedanta in talks with IHC unit, investors for Zambian copper stake sale

Vedanta Resources, owned by Indian billionaire Anil Agarwal, is in talks with investors, including International Resources Holding (IRH), to sell a stake in its Zambian copper assets. IRH, a unit of UAE's International Holding Company, is conducting due diligence on acquiring a stake in Konkola Copper Mines (KCM). Vedanta wants the funds to revive operations and boost copper output. While IRH has shown interest in acquiring more than a 30% stake, negotiations are ongoing. Other long-term investors are also exploring investment opportunities in KCM. Vedanta aims to gradually increase copper output at the Konkola mines over the next five years.

Vedanta raises $250 million to settle Zambian copper mine debts, plans to sell 30% stake: Report | Mint

Livemint

Livemint · 1y ago

Vedanta raises $250 million to settle Zambian copper mine debts, plans to sell 30% stake: Report | Mint

Vedanta Resources has secured the funds needed to pay off the creditors of its Zambian copper mine, Konkola Copper Mines (KCM). The company, led by billionaire Anil Agarwal, will have approximately $250 million to settle its debts. Vedanta regained control of KCM last year after a five-year battle with the Zambian government. The company still needs to raise an additional $1 billion to revive mining operations and invest in the Konkola Deep Mining Project. Vedanta may sell a 30% stake in KCM to raise capital, while the Zambian government owns a 20% stake in the mine.

Vedanta's Anil Agarwal agrees to pay Zambian creditors

Livemint

Livemint · 2y ago

Vedanta's Anil Agarwal agrees to pay Zambian creditors

Vedanta Resources will pay $250 million to Zambian creditors as it regains control of seized copper mines. Zambia's past administration alleged tax issues, but current President Hakainde Hichilema seeks amicable resolution. Vedanta founder Anil Agarwal plans $1 billion investment to boost copper production, aiding Zambia's clean energy transition and tax revenue.

Anil Agarwal’s Vedanta to regain control over Zambian copper mines

Livemint

Livemint · 1y ago

Anil Agarwal’s Vedanta to regain control over Zambian copper mines

Vedanta Resources has resolved a four-year legal dispute with the Zambian government over the Konkola Copper Mines (KCM). The Zambian government had previously placed KCM under provisional liquidation in 2019, accusing Vedanta of dishonesty. As part of the resolution, Vedanta will regain control of KCM and invest $1 billion over five years for expansion. Vedanta will also pay $250 million to local creditors, allocate $20 million annually for local communities, increase worker salaries by 20%, and provide a one-off payment to employees. The deal is expected to revitalize Zambia's copper industry.

Vedanta’s ‘gold mine’ in Zambia may soon be on Wall Street. Here's what is planned

Business Today

Business Today · 3m ago

Vedanta’s ‘gold mine’ in Zambia may soon be on Wall Street. Here's what is planned

Vedanta Resources is considering listing its Zambian asset, Konkola Copper Mines (KCM), on US stock exchanges. This move is part of the company's broader strategy to raise capital. The listing could allow Vedanta to tap into US financial markets and attract significant investment. The exploration of a US listing reflects Vedanta's strategic efforts to optimize asset value and bolster financial resources, enhancing its position in the global mining sector.

Vedanta settles dues worth $246 million to regain control of Zambia copper mine

Livemint

Livemint · 1y ago

Vedanta settles dues worth $246 million to regain control of Zambia copper mine

Vedanta Resources Holding Ltd is set to regain control of the Konkola copper mine in Zambia after settling outstanding dues of nearly $246 million. The mine, which was pushed into liquidation by the Zambian government in 2019, holds significant deposits of high-grade copper and is among the top cobalt producers in the world. Vedanta plans to increase copper production to 300 thousand tonnes per annum and boost cobalt production from 1 thousand tonnes per annum to 6 thousand tonnes per annum. The company aims to meet growing demand for copper, especially in India, and strengthen economic ties between the two countries.

After GQG, Abu Dhabi's IHC backs Adani over US indictment

Livemint

Livemint · 9m ago

After GQG, Abu Dhabi's IHC backs Adani over US indictment

International Holding Company (IHC), the investment arm of Abu Dhabi's ruling family, has expressed its confidence in the Adani group despite the recent indictment of Gautam Adani and others by US federal prosecutors for alleged bribery. IHC, the third-largest foreign investor in Adani with a $2.5 billion investment, stated that its strategy is focused on long-term growth and sustainability. Other major investors in Adani include TotalEnergies and GQG Partners. Adani group denies all charges and has suffered a significant loss in market capitalization following the indictment.

Vedanta eyes $2 billion copper project investments in Saudi Arabia | Company Business News

Livemint

Livemint · 9m ago

Vedanta eyes $2 billion copper project investments in Saudi Arabia | Company Business News

Mining company Vedanta Ltd. plans to invest $2 billion in significant copper projects in Saudi Arabia. The company's subsidiary, Vedanta Copper International, has signed an agreement with the Saudi Arabian Ministry of Investment and Ministry of Industries & Mineral Resources to establish a greenfield copper smelter and refinery and a copper rod project. The investment supports Saudi Arabia's Vision 2030, which aims to increase the minerals sector's GDP contribution and tap into $1.3 trillion worth of mineral resources. Vedanta's projects will contribute to job creation and downstream industry development, while also boosting the nation's GDP by $19 billion.

Abu Dhabi wealth fund ADQ signs deal for stake in Egypt luxury hotels

VCCircle

VCCircle · 1y ago

Abu Dhabi wealth fund ADQ signs deal for stake in Egypt luxury hotels

Abu Dhabi's wealth fund ADQ has reached an agreement to acquire a 40.5% stake in ICON, the hospitality arm of Egypt's Talaat Moustafa Group (TMG). This deal will grant ADQ partial ownership of several luxury hotels in Egypt. The transaction, a capital increase carried out by ADQ and its unit ADNEC, is seen as a significant foreign direct investment in Egypt's tourism and hospitality sector. The financial details of the deal have not been disclosed.

Abu Dhabi's IHC to hold buyback of up to $1.36 bn

VCCircle

VCCircle · 1y ago

Abu Dhabi's IHC to hold buyback of up to $1.36 bn

Abu Dhabi's International Holding Company (IHC) has announced a share buyback of up to $1.36 billion, following a nearly doubling of its first-quarter profit. The company reported a net profit of AED 8.02 billion ($2.18 billion) for Q1 2022, up from AED 4.27 billion in the same period last year. Strong performances in core divisions including real estate, construction, and technology contributed to the revenue growth. The decision to buy back shares is driven by the company's strong financial standing, characterized by significant cash flow and a strong balance sheet.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Just Months After Promotion, Open ...

Microsoft locks down a building a ...

Google Alerts 2.5B Gmail Users Af ...

Download the medial app to read full posts, comements and news.