Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
China’s Minmetals Resources Ltd has extended its $1.3 billion takeover offer for Africa-focused copper miner Anvil Mining Ltd by two weeks to Dec. 9.
This comes after Anvil warned last month that the offer may not be completed if the company failed to agree with its partner, state-owned Democratic Republic of Congo miner La Generale des Carriere et des Mines Sarl (Gecamines), on contractual arrangements.
The offer of C$8.00 a share had been due to close on Nov. 24. Anvil’s shares last traded at C$7.33 a share amid uncertainty over the issues raised by Gecamines.
