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MEI Online: General Minerals Engineering: Latest News: April 14th 2003

:: Xstrata Agrees to Buy MIM  

Swiss-based resources group Xstrata has agreed to purchase Australia' MIM Holdings for A$3.44 billion. The deal, which is subject to regulatory and shareholder approval, has the backing of Glencore International, which owns 40% of Xstrata, and the MIM board, although the board's decision is not unanimous. Xstrata is South Africa's third largest coal mining company, and the world's largest chrome producer and the second largest vanadium producer. MIM produces gold, coal, copper, and lead-zinc in Australia and Argentina, and has a number of proprietary technologies, including Isasmelt (copper and lead smelting), the Isa process (copper refining), the Jameson Cell, and the Albion fine grinding and leaching technology for gold and base metals.



Click for more info on Flotation '19

News release, MIM Holdings, 7 Apr 2003
Business Day, 8 Apr 2003, pp 1,2
Business Report, 8 Apr 2003, p 3

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