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Anvil Mining Ltd - OTC Short Positions on 2011/08/31 52,542 -26,107



Drums beating for Anvil Mining
Sarah Thompson, Christine Lacy and Stephen Shore
15 September 2011
Source: Australian Financial Review (Abstracts)

Early last month, African copper miner Anvil Mining began a strategic review in conjunction with its major shareholder, commodities trader Trafigura, which is looking to offload its 39 percent stake. Now a $1 billion-plus takeover bid for Anvil Mining looks to be coming up. Canadian broker BMO Capital Markets is assisting in the process and is believed to have signed up one interested party for the data room.

The company is not believed to be the world?s largest nickel producer, Jinchuan Group that last month completed a takeover of Metorex, a copper miner operating in the Democratic Republic of Congo. Minmetals Resources bid for the Zambian copper miner Equinox in April but was beaten by Barrick Gold, seen as a more likely candidate. Due to major synergies between the two companies, a takeover of Anvil is seen as having implications for DRC copper miner Tiger Resources, while Trafigura also holds a major stake in Tiger.