The Indian government is planning to oppose Hindustan Zinc’s proposal to buy global zinc assets of Vedanta for $2.98 billion.

In just three years, Indonesia has signed more than a dozen deals worth more than $15 billion for battery and EV production.

The facility in East Java will have a capacity of 1.7 million tonnes of copper concentrate.

The Japanese trading house said reasons for offloading its interest in the Canadian mine included unstable operations, declining grades and increased risk of environmental liabilities.

The country has offered the US car maker incentives ranging from tax breaks to a concession to mine nickel.

The central bank’s gold reserves were at the highest level on record, the World Gold Council said in a report Tuesday.

The copper smelter, located in the southern state of Tamil Nadu, accounted for almost 40% of the metal’s production in the country.

The resource-rich country is set to ban exports of all unprocessed metal ore in June 2023 to develop processing facilities at home.