The market is recovering and the Chinese and BHP are looking for more acquisitions, as they know better to buy at the bottom..
Management accepted the lowest price in what is becomming a sellers market, i wonder if they would sell thier own house to the lowest offer in a sellers Market.
The Railway Deposit - A premium Product and would not be short of buyers.
Fair enough if there are no buyers but there are a lot of potential buyers for the ore that the Railway deposit can produce
Minmetals Seeks Assets in Canada, Australia, Asia (Update1)
By Bloomberg News
Oct. 22 (Bloomberg) -- China Minmetals Corp., the nation’s largest metals trader, is seeking assets in Canada, Australia and Southeast Asia, a company official said in an interview in Tianjin today.
The company is looking at so-called brownfield projects, said Huang Dongmei, deputy general manager at Minmetals Exploration and Development Co. Brownfield assets are undeveloped projects located close to existing mines.
“We are seeking copper, lead, zinc and iron ore assets in Canada; lead, zinc and iron ore assets in Australia; and gold and nickel projects in Southeast Asia,’’ Huang said, without elaborating.
In June, China Minmetals agreed to pay $1.39 billion for Australia’s OZ Minerals Ltd., the world’s second-largest zinc mining company.
To contact the Bloomberg News staff on this story: Feiwen Rong in Tianjin at [email protected]; Xiao Yu in Tianjin at [email protected]
a sellers market
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