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Business Standard
20-05-2025
- Business
- Business Standard
Hindalco Industries to acquire MIL Mines and Mineral Resources
The Board of Hindalco Industries at its meeting held today, i.e., Tuesday, May 20, 2025, has approved acquisition of 100% equity stake in EMIL Mines and Mineral Resources (EMMRL) (wholly owned subsidiary of Essel Mining & Industries), the lease holder of the Bandha coal block, by executing a Share Purchase Agreement. The Company's strategic objective is to double down its upstream capacities. The proposed acquisition aims to meet the Company's strategic objective of securing resources for its aluminium smelters. As Bandha coal block has resources of ~197 Million Tonne mineable reserves, mine-life of around 45 years and a location of about 20 Kms (aerially) from Company's Mahan power plant and smelter, it builds a sustainable coal supply chain for the foreseeable future with all three modes of transport, namely, rail, road, and conveyor possible and provides fuel security. The proposed acquisition is subject to Shareholders' and applicable regulatory/statutory approval(s) and other closing customary conditions. Brief details, in accordance with the SEBI Circular are annexed herewith.
Business Standard
20-05-2025
- Business
- Business Standard
Board of Hindalco Industries approves acquisition of EMIL Mines and Mineral Resources
At meeting held on 20 May 2025The Board of Hindalco Industries at its meeting held on 20 May 2025 has approved the acquisition of 100% equity stake in EMIL Mines and Mineral Resources (EMMRL), a wholly owned subsidiary of Essel Mining & Industries (EMIL) for a consideration of Rs 48 lakhs along with net debt value of Rs 1131 crore, subject to approval of the Shareholders of the Company along with requisite approvals from State Government and Central Government as may be applicable. Additional information as required under Listing Regulations for the said matter, as applicable, is being filed separately. Powered by Capital Market - Live News
