Lloyds Metals will acquire up to a 50% equity stake in Nexus Holdco FZCO through its subsidiary, Lloyds Global Resources FZCO (LGRF), for up to USD 55 million. Nexus holds interests in mining concessions and a copper processing plant in the Democratic Republic of Congo. Additionally, the company approved a non-binding Memorandum of Understanding (MOU) with Tata Steel to explore cooperation in raw material mining, logistics, pellets, and steel making.
Acquisition of Nexus Holdco FZCO
Lloyds Metals and Energy Limited announced that its Board has approved the acquisition of up to a 50% equity stake in Nexus Holdco FZCO through its wholly-owned subsidiary, Lloyds Global Resources FZCO (LGRF). Nexus Holdco holds approximately 80-90% equity stake in Surya Mines SARL and eight other companies, which collectively possess mining concessions and a copper processing plant in the Democratic Republic of Congo.
The consideration for the 50% equity stake is up to USD 55 million. This acquisition is expected to be completed by the end of June 2026. The acquisition will allow Lloyds Metals to expand its existing mineral exploration and processing business.
Partnership with Tata Steel Limited
The Board also approved entering into a non-binding Memorandum of Understanding (MOU) with Tata Steel Limited. This MOU aims to explore potential cooperation in areas such as raw material mining, logistics, pellets, and steel making.
Board Meeting Outcomes
The decisions were made during a board meeting held on December 10, 2025, which commenced at 04:03 P.M. (IST) and concluded at 05:13 P.M. (IST).
Source: BSE
