SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Sterlite completes Rs 1,170-cr S. Africa coal mine buy

07 Feb 2011 Evaluate

Sterlite Industries, part of Vedanta Resources Plc, has completed the acquisition of a 74 per cent stake in Black Mountain Mines in South Africa from Anglo Operations (part of the Anglo American plc) for $260 million (Rs 1,170 crore).The company will also replace a shareholder loan for $88 million (Rs 396 crore) which takes the total value of the deal to $348 million (Rs 1,566 crore).

Vedanta announced the acquisition of Anglo American's zinc assets for $1,338 million on an attributable, debt and cash-free basis. Anglo Zinc comprises Skorpion mine in Namibia, Lisheen mine in Ireland and the 74 per cent-owned Black Mountain Mines, which includes the Black Mountain mine and Gamsberg project in South Africa.

The acquisition of the Skorpion zinc mine was completed last December for a cash consideration of $707 million (Rs 3,180 crore). The process of completing the Lisheen mine transaction is progressing well and expected to close as per schedulecrackcrack

Peers
Company Name CMP
Hindalco 1038.95
Vedanta 787.60
Hindustan Zinc 592.35
Jain Resource Recycl 420.90
Gravita India 1639.80
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×