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Article: China Minmetals still discussing Oz Minerals deal
- Article from:
- AP Worldstream
- Article date:
- March 30, 2009
- Author:
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China's Minmetals was still in discussions with Australia's foreign investment regulators about buying debt-laden Oz Minerals, a spokesman said Monday, after a crucial part of the deal was vetoed by the government.
Treasurer Wayne Swan delivered a blow to China Minmetals Nonferrous Metals Co.'s proposed 2.6 billion Australian dollars ($1.7 billion) acquisition of the world's second-largest zinc producer when he said the state-owned company would not be allowed to buy Oz Minerals' Prominent Hill mine in the Woomera Prohibited Area, a military weapons testing range.
Fairfax Media newspapers reported Monday that Minmetals handed Oz Minerals a revised plan to buy most of the ...