Sale of Inmet's Antamina stake delayed

Article Abstract:

Inmet Mining Corp. found its scheduled sale of an ownership stake in a Peruvian mine delayed due to complex legal proceedings. Noranda Inc. and Teck Corp. are expected to buy the property for C$70 million. The sale of the Antamina copper and zinc mine is also the major factor behind the inability of Zemex Corp. of Toronto, Ontario, to conduct a hostile takeover of Inmet Mining worth C$517 million. The mine is anticipated to become the third-biggest zinc producer and seventh-biggest copper mine in the world, despite the existence of $2.2 billion in capital costs, noted Teck.

Comment:

Finds scheduled joint takeover with Noranda Inc. of ownership stake in a Peruvian mine delayed due to complex legal proceedings

United States, Canada, Copper Mines, Copper Ore and Nickel Ore Mining, Peru, All Other Nonmetallic Mineral Mining, Minerals & Rocks NEC, Metal Ores, Metal Ore Mining, Copper mining, Mining industry, Nonmetal mining, Teck Corp., Noranda Inc., Ores, Nonmetallic mineral deposits, Inmet Mining Corp., Zemex Corp., Article

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Paperboard selling half stake in French pulp mill to Tembec

Article Abstract:

Carton maker Paperboard Industries International Inc of Montreal, Quebec, has announced that it is selling its half stake in French pulp mill, Tartas SA, to partner Tembec Inc for C$35 million. Another C$10 million will be paid by Tembec depending on the pulp mills profitability in the next three years. Paperboard said that it will focus on its core boxboard business and will use the proceeds to reduce its C$21-million long-term debt.

France, Woodpulp & Related Products, Pulp Mills, Paper & Allied Products, Paper Manufacturing, Wood pulp industry, Paper industry, Paperboard Industries International Inc., Tartas S.A.

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