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BASE METALS

MMG confirms Las Bambas talks, no binding agreement yet

Hong Kong-listed MMG has confirmed that it was in discussions with mining major GlencoreXstrata regarding the acquisition of the Las Bambas copper project, in Peru. MMG, the Australia-based offshore arm of Chinese State-owned Minmetals, stated...
19th March 2014
 
All

Kinsevere mine Stage 2 development, Democratic Republic of Congo Restricted

Anvil Mining has reported that 2011 production at the Kinsevere project was slightly below the guidance the company previously provided.
3rd February 2012
 
BASE METALS

Anvil sees lower DRC copper output

Minmetals takeover target Anvil Mining on Tuesday warned its 2011 production would be lower than expected owing to technical difficulties at its Democratic Republic of Congo (DRC) project. The ASX- and TSX-listed miner said 2011 production would...
10th January 2012
 
CORPORATE ACTIVITY

Minmetals to launch formal Equinox offer before month-end

China’s Minmetals could make a formal offer for ASX- and TSX-listed Equinox Minerals in the next three weeks. A spokesperson for Minmetals told Mining Weekly Online on Friday that the formal offer would be launched before Equinox’s takeover offer...
8th April 2011
 
Video Clips

Daily Podcast - August 27, 2009 Audio Available

State-owned power utility Eskom, which posted a record R9,7-billion loss in its 2009 financial year to end-March, spent R7-billion more on coal than in the previous year, Australia's Oz Minerals posted a loss of A$580,7-million in the six months...
27th August 2009
 
COPPER/GOLD

Oz Minerals posts A$580m interim loss on asset sale

Australia's Oz Minerals posted a loss of A$580,7-million in the six months ended June 30, after it incurred a loss on the sale of assets, lower revenue and higher costs associated with its refinancing plan. The company, which owns the Prominent...
27th August 2009
 
Photo of the Week

HAPPY DAYS

Zhou Zhongshu, president of China's Minmetals, left, shakes hands with Andrew Michelmore, the CEO of the newly-launched Minerals and Metals Group (MMG), at a function in Melbourne, Australia, last week. The company emerged following a $1,4-billion...
26th June 2009
 
CORPORATE ACTIVITY

$1,39bn OZ Minerals deal secures Chinese entry into Australian mining

Shareholder in OZ Minerals last week approved a plan to sell $1,39-billion of assets to China Minmetals Group to cut debt after the Chinese company sweetened its offer yesterday to fend off rival proposals. About 92% of shareholders voted in...
19th June 2009
 
M&A

Shareholder approval only condition outstanding in Oz-Minmetals deal

Diversified Australian miner Oz Minerals on Wednesday received approval from the Chinese government for its $1,2-billion deal with Minmetals. The only condition still to be met for the transaction was approval from Oz Minerals shareholders. “With...
3rd June 2009
 
M&A

Australia rejects Chinese Minmetals’ A$2,6bn bid for Oz Minerals

Australian diversified miner Oz Minerals said on Friday that it was in discussions with China’s Minmetals, after Treasurer Wayne Swan rejected a takeover transaction. MD Andre Michelmore said that it would look at possible changes to the proposed...
27th March 2009
 
M&A

Australia’s probe into Oz Minerals-Minmetals deal extended

The Australian Foreign Investment Review Board has extended the evaluation period for Chinese State-owned firm Minmetals’ takeover bid for diversified miner Oz Minerals to late June. The evaluation period for the approval of the A$2,6-billion...
23rd March 2009
 
CHINESE INVESTMENT

Chinese investments worry Australian mine unions

Australian mine unions have called for a revitalised national debate on the use of export licences in the resources sector, which were abolished in the 1990s. The Australian Workers’ Union (AWU) and the Construction, Forestry, Mining, and Energy...
19th February 2009
 
 
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