Yesterday's AFR on page 23 had this to say in relation to BHP's bid for Potash Corp
"(BHP) Mines that could be on the chopping block would include Ekati (diamonds), Cannington (lead and silver), Samarco (iron ore pellets), Nickel West and it's stake in the Antamina Copper mine in Peru and Mineral Sands in S Africa."
Now BHP owns 33% of Antamina and it produces (BHP's proportion of production) approx 100,000t of Copper annually (it also produces 3,000t of lead, 135,000t of Zinc, 4.7moz of Silver and 269t of Molybdenum). Copper grade is 1%.
This post is to highlight that potential opportunities are there for OZL if it has the patience to keep to it's game plan. Will BHP sell it's stake in Antimina? Who knows? A lot needs to happen before that sale could take place.
HT1
OZL Price at posting:
$12.50 Sentiment: LT Buy Disclosure: Held
