Aditya Birla Minerals

Indian aluminium and copper giant Hindalco Industries Ltd plans to raise almost $300 million through the Australian Stock Exchange listing of Birla Minerals Ltd, the owner of the Nifty copper mine near Telfer, Western Australia.

Delays in the construction of Perth-based copper producer Aditya Birla Minerals Ltd's underground crusher and conveyor project have caused the Indian company's Australian arm to forecast a break-even or marginal loss for this financial year.

Aditya Birla Minerals Ltd has recorded a 14 per cent drop in total copper output over the June quarter as it remains tight lipped over the impact the state's gas crisis has had on its operations.

Perth-based copper miner Aditya Birla expects to save up to $5 million a month after it revealed a raft of cost saving measures in the wake of falling commodity prices.

Miner Aditya Birla says it is exploring various funding options after it revealed it will be hit by $112 million in liabilities on the back of the falling copper price.

Perth-based Aditya Birla Minerals has reported a full-year net loss of $76 million as it halted production at two of its operations on the back of lower commodity prices.

Shares in Aditya Birla Minerals have risen after the base metals miner today said it expects an annual profit after tax of $61 million, a turnaround from the $76 million loss from the previous year.

Copper producer, Aditya Birla Minerals has halted operations at its Birla Mt Gordon site blaming poor production performance, uncertain economic conditions and a weaker copper price for the decision.

Gold miner Noble Mineral Resources has appointed former Sandfire Resources general manager Craig Dawson as its new chief executive.

Perth-based miner Aditya Birla Minerals disclosed today it has stood down the majority of employees at its Nifty copper mine as it continues to investigate suspected ground subsidence.

An unscheduled shutdown by one of its key mining clients has forced Swick Mining Services to again lower its revenue guidance, despite a rebound in fleet utilisation.

Vikas Rambal is pushing ahead with his multi-billion dollar fertiliser plant and pursuing a newfound appetite for property investment.

FEATURE: Mineral Resources has shown the lengths to which mining services companies are willing to go to secure new work in the current flat market.

The share price of Perth copper producer Aditya Birla Minerals risen 19.5 per cent on the announcement that its Nifty underground copper mine had been cleared to resume operations.

Copper producer Aditya Birla Minerals will resume mining activities at its Birla Nifty mine less than four months after it was closed due to a sinkhole.

Drilling company Swick Mining Services has announced it should beat its downgraded guidance for the year in its quarterly update today.

Copper producer Aditya Birla Minerals has flagged impairment charges in the range of $175 million to $225 million in its upcoming half-year financial report, resulting from mining set-backs, potential asset divestments, and devaluation of its heap leach inventory.

Successfully doing business in India involves navigating a labyrinthine world usually impenetrable to outsiders.

Board changes

Salaries for newly-appointed chief executives at WA-listed companies were down by 20 per cent from the levels prevailing last year, research by Business News has found. Click through to see salary packages for 77 WA chief executives.

Copper miner Aditya Birla Minerals has suffered a contractor fatality at its Nifty copper mine in the Great Sandy Desert.

Famed 1980s deal maker John Spalvins and Perth investor Brettney Fogarty pushed today for major changes at embattled copper mine Aditya Birla Minerals, putting dozens of questions to directors and the auditor at a four-hour shareholder meeting.

Private equity groups are on track to gain control of two mining operations, after Aditya Birla Minerals sold its mothballed Mt Gordon operation, while Atherton Resources looks set to be acquired in a takeover valued at about $56 million.

Perth company Metals X has made a surprise takeover offer for embattled copper miner Aditya Birla Minerals, in a bid which values the target at about $86 million.

Metals X’s $82 million takeover offer for embattled copper miner Aditya Birla Minerals won’t succeed after the target’s largest shareholder said it wouldn’t be accepting the offer.

Live cattle exporter Wellard is set to list at $1.39 per share, launching a prospectus to raise close to $300 million to give the business a market capitalisation of almost $560 million.

Metals X has waived a minimum acceptance condition on its $68 million takeover bid for Aditya Birla Minerals after lifting its holding in the copper miner to 18.24 per cent, less than previously disclosed.

The battle for control of Aditya Birla Minerals has intensified, with bidder Metals X extending its $68 million takeover offer to late February while accusing the target of lacking transparency around expenses.

Metals X has once again stepped up its pursuit of Aditya Birla Minerals, announcing today that its off-market $68 million takeover offer is now unconditional, with a quarter of Aditya shareholders already accepting the offer.

Metals X looks set to succeed in its long-running battle for control of Aditya Birla Minerals, with the takeover target recommending shareholders accept an increased offer that values the company at about $103 million.

SPECIAL REPORT: Lithium stocks led by Pilbara Minerals and Galaxy Resources have seized the opportunities presented by the commodity’s surge.

Diversified miner Metals X has confirmed a $115.6 million capital raising and plans to demerge its gold assets into a new company, which will be led by existing chief executive Peter Cook.

Heron Resources is the latest company to announce plans to spin-out its non-core assets into a new company, following similar recent movements by Metals X, TNG and Indiana Resources.

Metals X has temporarily suspended underground mining at its Nifty copper operation to undertake repairs.