Panama vows to talk to First Quantum in coming months on shuttered mine
Panama’s new president has said that the mine may need to be temporarily reopened in order to responsibly prepare for a permanent closure.
Australian copper and gold miner OZ Minerals is denying rumours that it has received a takeover bid from Glencore Xstrata,
“The company advises it has not received a substantial shareholder notice from Glencore nor has OZ Minerals been approached by Glencore in regard to any proposal,” OZ said in a statement Monday.
UK media suggested this weekend that Glencore had quietly built a 10% stake in OZ and was considering a bid.
OZ’s shares were up 2.5% to $4.52 at 2:30 AEST Monday after rising as much as 6.7% earlier in the day.
OZ Minerals suffered a loss of $268 million loss in the first half of 2013, “sharply down from a $119.5 million profit posted during the same period in 2012.”
The company has a market capitalisation of $1.34 billion.
