Hindustan Zinc to purchase Zinc International assets from Vedanta

24 Jan 2023 CW Team

Vedanta, a company promoted by Anil Agarwal, announced that it would sell Zinc International assets to Hindustan Zinc for USD 2,981 million in cash. The sale of the Zinc International assets held by THL Zinc Ventures Ltd (Mauritius) (THLZV), a direct wholly-owned subsidiary of the mining and metals giant Vedanta, was approved by the company's board.

According to a filing by Vedanta, the assets held by THLZV through THL Zinc Ltd (Mauritius), which include shares in Black Mountain Mining Pty Ltd in South Africa (of which it owns 69.6%) and THL Zinc Namibia Holdings (Pty) Ltd in Namibia (of which it owns 100%), will be sold to the proposed wholly-owned subsidiary (SPV) of Hindustan Zinc Ltd (HZL) for a cash consideration not exceeding USD 2,981 million. 64.92% of the equity share capital of HZL is owned by Vedanta.

The proposed deal will depend on getting the required regulatory approvals. The transaction will likely be finalised over the course of 18 months in stages, provided that all necessary regulatory permissions are received in a timely way. The proposed merger will generate significant synergies for both THLZ and HZL, unlock value, and capitalise on the aforementioned zinc assets. Hindustan Zinc is nation's integrated producer of zinc, lead, and silver.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..