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CHINA'S MINMETALS MAKES US$1.2 BLN OFFER FOR AUSTRALIAN MINES.
MELBOURNE, April 1 Asia Pulse - OZ Minerals Ltd (ASX:OZL) has received a US$1.2 billion proposal from its Chinese suitor to acquire a suite of the miner's assets and received an extension to its debt refinancing obligations.
Minmetals Non-ferrous Metals Company Ltd has submitted a proposal to acquire the Century and Rosebery zinc mines, in Queensland and Tasmania respectively, the Avebury nickel mine in Tasmania, which is on care and maintenance, and the Sepon copper and gold operation in Laos.
The deal also includes a suite of exploration and near-development assets in Canada and Australia, including the Dugald River project in Queensland.
"While this is a structurally different proposal to the previous cash proposal from Minmetals of 82.5 cents per share, we believe it represents an attractive offer for OZ Minerals and our shareholders," OZ Minerals chairman Barry Cusack said in a statement.
Treasurer Wayne Swan on Friday forced the parties back to the drawing board after threatening to block a full takeover of OZ Minerals if the Prominent Hill mine in South Australia was included in the transaction - citing national security concerns.
The A$1.15 billion (US$799.82 million) copper and gold mine is in the Woomera Prohibited Area weapons testing range.
OZ Minerals chief executive Andrew Michelmore said the structure of the new deal would allow ...
- AUSTRALIA'S OZ MINERALS TO FOCUS ON EXPANDING PROMINENT HILL PJT.
- News wire article from: AsiaPulse News June 30, 2009 700+ words
...Australian Miner OZ Minerals (ASX:OZL...expanding its Prominent Hill mine, after...week, leaves OZ Minerals with the Prominent Hill copper-gold...mining rates at Prominent Hill and recommence...the mine. "OZ Minerals has also re...
- OZ MINERALS REPORTS 32% INCREASE IN S AUST PROMINENT HILL ORE.
- News wire article from: AsiaPulse News May 18, 2009 700+ words
...resources at its Prominent Hill copper and gold...South Australia. OZ Minerals shares were up two...distance of the Prominent Hill plant still to be tested," it said. Prominent Hill is OZ Minerals' sole asset following...
- AUSTS OZ MINERALS GETS REVISED CHINA MINMETALS BID OF US$1.2 BLN.
- News wire article from: AsiaPulse News April 3, 2009 700+ words
...Treasurer Wayne Swan since OZ Minerals' Prominent Hill mining operations were...managing director and CEO of OZ Minerals, said Prominent Hill had significant upside potential and OZ Minerals would have the financial...
- CHINA'S MINMETALS STILL IN TALKS WITH AUST'S OZ MINERALS.
- News wire article from: AsiaPulse News March 30, 2009 700+ words
...2 million) Prominent Hill copper and gold mine, OZ Minerals' best asset...scuttle the deal. "Prominent Hill is the jewel in the OZ Minerals crown and this...business with OZ Minerals without Prominent Hill. "MinMetals...
- OTHER OFFERS FOR AUST MINER OZ MINERALS EXPECTED TO BE IGNORED.
- News wire article from: AsiaPulse News June 10, 2009 700+ words
...issue", it said. OZ Minerals' flagship Prominent Hill mine is widely...deal proceeds. OZ Minerals says that when...development of Prominent Hill and allow it to...activities". OZ Minerals shares closed down...
- NEW MINMETALS DEAL COULD SEE OZ MINERALS REMAIN AS LISTED CO.
- News wire article from: AsiaPulse News March 31, 2009 700+ words
...to acquire all of OZ Minerals assets, except for Prominent Hill, the Martabe gold...full takeover of OZ Minerals if the Prominent Hill mine, located in...assets, including Prominent Hill. OZ Minerals on Tuesday it expects...
- AUSTRALIA'S OZ MINERALS POSTS HEAVY FIRST HALF LOSS.(Financial report)
- News wire article from: AsiaPulse News August 27, 2009 700+ words
...its flagship mine at Prominent Hill in South Australia. OZ Minerals' interim report on...all base metals," OZ Minerals said. The Prominent Hill Mine realised a net...to 30 June 2009. OZ Minerals' asset sell-off...
- OZ MINERALS TO DEFER PROJECTS, CUT COSTS TO SURVIVE CRISIS.
- News wire article from: AsiaPulse News November 25, 2008 700+ words
...Michelmore said in a statement. OZ Minerals said it was seeking extensions...until after 2009 on both. OZ Minerals said the Prominent Hill copper gold project in South...output from the Century mine. OZ Minerals will cut about $98 million...