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Article: AUST GOVT THREATENS TO BLOCK MINMETALS' TAKEOVER OF OZ MINERALS.
- Article from:
- AsiaPulse News
- Article date:
- March 27, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MELBOURNE, March 27 Asia Pulse - OZ Minerals Ltd (ASX:OZL) and its Chinese suitor are going back to the drawing board after the federal government threatened to block a planned takeover if the flagship Prominent Hill mine was included in the deal.
Chinese state-owned Minmetals Non-ferrous Metals Company Ltd had thrown OZ Minerals a lifeline through a A$2.6 billion (US$1.83 billion) takeover proposal as the Australian miner struggles to refinance A$1.3 billion in debt.
But Treasurer Wayne Swan said on Friday the federal government would not endorse the deal if the A$1.15 billion copper and gold mine was included in the transaction, because of national ...