takeover, page-10

Did everyone see this article.
amazing how a merger always end in a share price fall.
ozm now pulling out the old Chinese chestnut to save its sp.
sad but must be upside next year.



Chinese eye OZ Minerals
Email Print Normal font Large font AdvertisementAugust 4, 2008 - 4:25PM

OZ Minerals, the world's second- largest zinc mining company, says Chinese companies may be interested in investing in the company following the recent decline in its share price.

"We'd have to be juicy for them,'' Peter Lester, executive general manager of business development of the Melbourne-based company said today at a media conference in Kalgoorlie, Western Australia.

Still, "no one has rung us and said 'do you want to learn Mandarin' yet,'' he said.

China is snapping up mining assets in Australia to secure supplies of raw materials to help offset a seven-year gain in metal prices. There will be further Chinese investment into Australia, Mr' Lester said.

"They cannot afford not to put their foot on assets,'' he said. OZ Minerals, created by Oxiana's acquisition of Zinifex, produces zinc, copper, gold and nickel from mines in Australia and Laos.

Buying Zinifex boosted OZ Mineral's zinc output fivefold and increased lead and silver output.

OZ Minerals' shares fell 3.5 cents, or 1.8% to close at $1.88. The stock has declined 12% since the merged company was formed on July 23.

Bloomberg