Announced Wed, 9 Sept, 2026 · 08:30 IST
Kiri Industries subsidiary acquires 40% in Philippine copper-gold miner
KIRIINDUS · price
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Price reaction · full curve 14 horizons · vs prior close
-10.1%1-day move
₹584.00
prior close
₹596.05
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.9-0.8-1.7-1.9-10.1-8.5-10.8-11.8-8.0-7.5-6.7———
Up moveDown movePending
AI summary
Kiri Industries' wholly-owned subsidiary Equinaire Holdings won a public auction to buy 20 million shares (40%) in Philippine firm Makilala Mining Company for USD 5.01 million. MMCI is developing the Maalinao-Caigutan-Biyog copper-gold project but has not started operations. The acquisition supports Kiri's greenfield copper project by securing long-term copper concentrate supply. Transaction is a related party deal, executed at arm's length through auction.
Likely market impact
Secures copper concentrate supply for Kiri's upcoming copper project; $5M deal is small; MMCI not yet operational so revenue impact limited near-term.