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Time of India
11 hours ago
- Climate
- Time of India
Bihar weather: Heavy rains, thunderstorms to hit Bihar today; Check IMD's forecast for next seven days here
The India Meteorological Department has predicted Bihar to receive heavy rainfall on June 20, accompanied with thunderstorms, according to the daily bulletin. As on June 20, IMD expects Bihar to receive heavy rainfall along with tunderstorm accompanied with lightning & gusty winds(30-40kmph). From June 20 to June 23, the forecast indicates a generally cloudy sky accompanied by one or two spells of rain or thundershowers, with daytime temperatures hovering between 33°C and 35°C. A slight drop in temperature is anticipated on June 24 and 25, as the weather shifts to more consistent rainfall or thundershowers. Minimum temperatures are expected to stay steady around 27°C to 28°C. Residents are advised to stay prepared for sudden showers and fluctuating weather conditions throughout the week. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 90s Icon: A Look at Her Today I Am Famous Undo Check predictions of IMD here: Date Min Temp (°C) Max Temp (°C) Weather 20-Jun 27.0 34.0 Generally cloudy sky with one or two spells of rain or thundershowers 21-Jun 27.0 35.0 Generally cloudy sky with one or two spells of rain or thundershowers 22-Jun 28.0 35.0 Generally cloudy sky with one or two spells of rain or thundershowers 23-Jun 28.0 33.0 Generally cloudy sky with one or two spells of rain or thundershowers 24-Jun 27.0 32.0 Rain or thundershowers 25-Jun 27.0 33.0 Rain or thundershowers The Southwest Monsoon has further advanced into most parts of Bihar and some more regions of eastern Uttar Pradesh as of June 19, according to the India Meteorological Department (IMD). Live Events According to the weather department, the deepening monsoon activity is set to bring very heavy to extremely heavy rainfall to isolated places across Gujarat, north Konkan, Madhya Maharashtra, West Bengal, and Odisha on Wednesday, with Jharkhand bracing for similar weather on both June 19 and 20. In East and Central India, extremely heavy rainfall is likely at isolated places over Jharkhand on June 19. In West India, extremely heavy rainfall is likely at isolated places over Konkan, ghat areas of Madhya Maharashtra, Gujarat Region on June 19. In Northeast India, light to moderate rainfall at most places accompanied with thunderstorm, lightning and isolated heavy to very heavy rainfall will likely continue over Northeast India during next 7 days.
Time of India
23-04-2025
- Business
- Time of India
Vedanta weighs US listing to raise $1 billion for Zambian copper assets
Vedanta Resources , is considering a U.S. public listing for its Zambian unit Konkola Copper Mines as one of its options to try to raise about $1 billion for mine development, three sources familiar with the details, told Reuters. The miner, owned by Indian billionaire Anil Agarwal , has hired Barclays and Citigroup to advise on the plans for an initial public offering, said the sources, who declined to be named due to sensitivity around the discussions. Vedanta is considering New York as one of the options to list KCM, as the Zambian unit is known, the sources said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 90s Icon: A Look at Her Today I Am Famous Undo They said the discussions were at an early stage and a timeline had yet to be finalised. A spokesperson for Vedanta Resources declined to comment beyond saying various options were under consideration. Live Events "We continue to evaluate a range of financing options, including internal accruals, debt instruments, and equity options, as we invest and grow our operations across the world," the spokesperson said. Citigroup declined to comment, while Barclays did not respond to emailed questions from Reuters. Vedanta has said it wants to raise capital as part of its plans to gradually increase copper output to about 300,000 metric tons per year over the next five years. KCM's output dwindled as Agarwal fought a protracted legal battle to reclaim the assets after former Zambian president Edgar Lungu's administration forced KCM into provisional liquidation. It had accused Vedanta of failing to invest to boost copper production. Agarwal regained control of the copper mines, smelter and refinery last year. Vedanta has since established a U.S.-based entity, Global Transition Resources Inc., which it said in a post on Linkedin produces copper, cobalt and gold in Africa. Reuters could not immediately establish whether Global Transition Resources would be the entity to house the assets in question in the event of a U.S. listing. Copper, with uses from power to construction, is in demand from the electric vehicle sector and new applications such as data centres for artificial intelligence. Vedanta said KCM holds one of the world's highest grade deposits of copper, together with reserves of about 400,000 tons of cobalt, another mineral needed for the transition to cleaner energy. Since recovering the assets from the Zambian government, Vedanta has secured short-term financing and started paying debts to local creditors, including bills for supplies of electricity, which had built up during the period. It also increased spending on the communities surrounding the mines. Vedanta last year attempted to sell a stake to United Arab Emirates-based International Resources Holding (IRH), but the deal collapsed due to valuation differences, Reuters reported. A separate process to sell at least a 30% equity stake in the mines had not been successful, leaving listing as one of the most viable options, one of the sources said. Vedanta Resources, the UK-based parent of Indian miner Vedanta Ltd owns an 80% shareholding in KCM and the Zambian government holds the remaining 20% stake through state investment firm ZCCM-IH. Vedanta is splitting its oil-to-metals conglomerate into five separate businesses, with plans to separately list the units.
