• Mon
  • Nov 24, 2014
  • Updated: 1:00pm

China Minmetals

China's miners to step up overseas push

Chinese mining companies will be on the prowl this year to acquire more firms or forge joint ventures in regions ranging from Africa to Latin America to Southeast Asia as they try to feed the country's voracious appetite for the iron ore and precious and industrial metals vital for an economy that has slowed but is still expanding at a healthy clip.

Saturday, 5 April, 2014, 1:54am

MMG sets 10pc floor for return on acquisitions

MMG, the overseas non-ferrous metals mining unit of state-owned China Minmetals, will consider as acquisition targets only assets and projects with at least a 10 per cent return, even though it enjoys low financing costs thanks to its parent firm's connections.

18 Mar 2014 - 5:16am

Iron ore miner IRC confident its investor will complete share purchase

IRC, a Hong Kong-listed iron ore miner in Russia's far east that supplies northeastern China's market, said it expects strategic shareholder General Nice Development to be able to complete its commitment to buy IRC's shares "in the not too distant future".

23 Jan 2014 - 12:35am

Corrections & clarifications

An article on B4 on October 29, 'Minmetals considers Galeno stake swap', incorrectly stated that shareholders approved last Friday Minmetals Resources' September 30 proposal to acquire Toronto and Sydney-listed Anvil Mining for C$1.3 billion. It should have said Minmetals Resources' shareholders approved the disposal of the company's non-core assets.

1 Nov 2011 - 12:00am

Minmetals considers Galeno stake swap

China Minmetals Corp, the nation's largest metals trader, is considering injecting its 60 per cent stake in the Galeno copper project in Peru into its Hong Kong-listed overseas mining unit, Minmetals Resources.

29 Oct 2011 - 12:00am

Chinese miner in premium bid for African foothold

Minmetals Resources, an overseas non-ferrous metals mining unit of China's largest metals trader China Minmetals Non-Ferrous Metals, has offered to pay a 30 per cent premium to take over a copper miner with assets in the Republic of Congo for C$1.33 billion (HK$10.04 billion), to gain a foothold to access Africa's rich resources.

1 Oct 2011 - 12:00am

The man on top of China's pile

Andrew Michelmore earned his mining spurs in his native Australia and then put in two years working for Russian oligarch and energy-and-metals producer Oleg Deripaska. Now, he sits atop Minmetals Resources as its chief executive and is the most senior foreigner working at a listed mainland-controlled miner.

24 Sep 2011 - 12:00am

Minmetals Resources has five-year growth plan

Minmetals Resources, the Hong Kong-listed overseas mining arm of state-backed metals trading giant China Minmetals Corp, aims to quadruple its market capitalisation within five years.

26 Aug 2011 - 12:00am

Halt in output of rare earths set to hit Japan

Japanese carmakers are bracing for price fluctuations in rare-earth materials as mainland producers come under pressure by the government to suspend production.

4 Aug 2011 - 12:00am

Minmetals pays price for dropping Equinox Minerals bid

Shares of Minmetals Resources fell more than 9 per cent yesterday after the Beijing-backed metals trader dropped its C$6.3 billion (HK$51.37 billion) bid for copper miner Equinox Minerals when it was badly outbid by Canada's Barrick Gold.

27 Apr 2011 - 12:00am

Minmetals looks to raise US$860m as it pursues takeover

Minmetals Resources, which is in the middle of a takeover battle for a Canada and Australia-listed miner operating mainly in Africa, aims to raise up to US$860 million by selling new shares.

19 Apr 2011 - 12:00am

Equinox slates 'lowball' takeover offer by MMR

Beijing-backed metals trader Minmetals Resources has vowed to press ahead with its hostile takeover of Australian-Canadian copper miner Equinox Minerals, even after its target denounced its offer as 'lowball' and 'opportunistic'.

9 Apr 2011 - 12:00am

Minmetals offers US$6.5b in takeover bid for Equinox

Minmetals Resources, the biggest metals trading firm in China, has offered US$6.5 billion in an all-cash takeover of Equinox Minerals.

5 Apr 2011 - 12:00am

China is not buying the world, so don't block it

If you've been reading the headlines recently, you might easily have got the impression that Chinese state companies have embarked on a massive global buying spree; that they are taking advantage of cheap funding from state-owned banks to gobble up the world's resources at an unprecedented rate in obedience to instructions from the highest levels of government in Beijing.

29 Jun 2009 - 12:00am

Mainland changes tack after resources setbacks

The mainland will continue to encourage companies to build up its position in the commodities markets after recent setbacks, as the country needs to diversify its huge foreign reserves, according to economists.

17 Jun 2009 - 12:00am

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