|
|
Article: AUSTRALIAN TREASURER OKAYS MINMETALS' REVISED OZ MINERALS OFFER.
- Article from:
- AsiaPulse News
- Article date:
- April 23, 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)
|
PERTH, April 23 Asia Pulse - China's Minmetals has been given the green light to acquire most of OZ Minerals Ltd's (ASX:OZL) assets, handing the debt-laden diversified miner its badly needed financial lifeline.
Federal treasurer Wayne Swan on Thursday approved Minmetals' revised $US1.2 billion ($A1.69 billion) offer to buy the assets, excluding the large Prominent Hill gold and copper mine in South Australia for national security reasons.
Mr Swan rejected Minmetals' earlier takeover proposal for OZ Minerals because this project - OZ Minerals' most prized - lies within the Woomera Prohibited Area.
State-owned Minmetals will instead buy the ...