Sep 21, 2017· Indian mining billionaire set to overtake PIC as Anglo's biggest shareholder. London Anil Agarwal, an Indian mining billionaire, plans to purchase as much as R27bn worth of additional Anglo American [JSE:AGL] shares, increasing his stake in the bluechip British miner that's benefited from a recovery in commodity prices.
Sep 21, 2017· Agarwal plans 2 bln boost to Anglo American stake. It has also benefited from the rebound in coal and ironore prices, posting earnings before interest, taxes, depreciation and amortization for the quarter ended June 30 up 48% from the previous year. Revenue for the period gained 32%.
Billionaire Friedland Wins Rights to Iron Ore Project in Guinea (Bloomberg) Billionaire mining investor Robert Friedland has won the rights to develop an iron ore deposit in Guinea that owners including BHP Group have left undeveloped for has been in talks with BHP, Newmont Goldcorp Corp. and Orano for months to secure the right to develop the Nimba deposit on Guinea's border with Liberia.
Complex government procedures are delaying project approvals in India and impeding companies, Agarwal said. His Sesa Sterlite Ltd. has seen its ironore business slump following courtimposed mining bans in two states, while the group's failure to obtain a mining permit for bauxite in the eastern state of Odisha has driven the aluminum unit into losses.
Anil Agarwal, the scrap metal dealer turned billionaire metals tycoon, says Prime Minister Narendra Modi should tap underground resources, grant autonomy to public sector firms and banks and extend up to Rs 2 lakh loan to all Aadhaar card holders to eradicate poverty and create jobs. India, he says, is in 'satyug' under the Modi government where coteries have been demolished and only performance recognised.