South32 has announced the sale of its entire stake in manganese alloy smelter Tasmanian Electro Metallurgical Company (TEMCO) to UK-based conglomerate GFG Alliance. The Australian diversified miner said on Thursday that GFG, owned by British conglomerate Sanjeev Gupta, will acquire 100% of the shares in TEMCO...
Billionaire UK industrialist Sanjeev Gupta has unveiled a US$1 billion renewable energy plan in South Australia, claiming that the 1GW project will lead to cheaper power across the state. Earlier this week Gupta revealed details of the large-scale renewables plan, that will be delivered via his...
Glencore (ASX:GLEN) will sell its Tahmoor coal mine, located in New South Wales, to British industrialist Sanjeev Gupta’s GFG Alliance after an undisclosed sum was agreed between the two parties. Tahmoor is one of two Australian coal mines which were put up for sale by the...
Solar and battery storage developer ZEN Energy is set to establish 1GW of renewable generation assets in South Australia, strengthening the state’s position as a global leader in the industry. The announcement was made in the company’s first board meeting since UK billionaire Sanjeev Gupta, the...
UK-based consortium GFG Alliance has announced it has signed a binding purchase agreement for financially troubled Australian steel company Arrium, outbidding an interested South Korean group in the process. The binding purchase agreement with GFG comes as a surprise, as a Seoul-based private equity syndicate led...