Minmetals makes new bid for OZ
31-03-2009
Australian mining firm OZ Minerals says it has received a revised takeover bid from China's Minmetals which excludes a mine on a sensitive military site. Australian Treasurer Wayne Swan on Friday scuttled Minmetals' original US$1.8 billion bid for OZ Minerals because it included the Prominent Hill mine, which is a restricted area used for rocket testing. OZ said it would endeavour to make a definitive announcement regarding the proposal before the market opened Wednesday, and said it also hoped to make an announcement regarding refinancing negotiations.
