Lloyds Metals Buys Nearly 80% Stake Thriveni Earthmovers
Lloyds Metals' board had approved the stake acquisition in December 2024. The Competition Commission of India approved the takeover in May.
Llyods Metals & Energy Ltd. has acquired nearly 80% stake in Thriveni Earthmovers and Infra Pvt. for an aggregate consideration of Rs 70 crore.
Thriveni Earthmovers is a mining contractor for various minerals, including iron ore and coal. Lloyds Metals bought 70 crore shares of the company, representing 79.82% stake.
Lloyds Metals' board had approved the stake acquisition in December 2024. The Competition Commission of India approved the takeover in May.
The acquisition of TEIL offers several strategic advantages for LMEL. It is expected to significantly reduce LMEL's iron ore mining costs, thereby enhancing overall cost efficiency. Furthermore, this integration is anticipated to substantially boost LMEL's consolidated financials by adding significant revenue streams.
TEIL's established operations will enable LMEL to explore new mining opportunities both within India and internationally. The long-term, contract-based business model of TEIL also provides LMEL with a stable, scalable, and predictable outlook for its future operations.
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Operational Update
LMEL's 4 million tonne pellet plant and 85 km slurry pipeline became operational in June 2025. Direct Reduced Iron production rose 3% year-on-year to 79,033 tonnes, while Iron Ore production remained flat at 4.0 million tonnes.
