After #Minmetals agreement to buy copper producer Anvil mining in September, it
has been speculated that the company now has its eyes on Mirabela Nickel and
Alumina Ltd. Wang Jionghui, general manager of mining exploration at China
Minmetals Corphad also said in an interview at a conference in China that the
group would be interested in acquisitions to meet demand for commodities in
emerging markets. Mirabela owns the Santa Rita nickel mine in Brazil , and
Alumina, which is an owner of the world's biggest producer of the raw
material. "Consummating a few of these would go a long way to closing that
valuation gap," John Stephenson , who helps manage $2.7 billion at First Asset
Investment Management Inc., said in a telephone interview from Istanbul.
"Minmetals' mines have relatively short mine lives. They definitely would be
an acquirer and it would certainly help." Minmetals Resources, which produces
zinc, copper, lead and gold from mines in Laos and Australia , is run by
59-year-old Australian #AndrewMichelmore, the most senior non-Chinese executive
at a state-owned listed mining company. Minmetals is a silver sponsor of the
Asia Mining Congress. To learn about Asia Mining Congress, visit our website or
download our brochure here . Read full article here
http://www.bloomberg.com/news/2011-11-06/mirabela-takeover-seen-with-minmetals-chasing-nickel-real-m-a.html
No comments:
Post a Comment