Zemex threatens to cancel takeover if Inmet pays debt

Article Abstract:

Zemex Corp. will cancel its proposed acquisition of Inmet Mining Corp. if the latter company pays off its C$125-million in debentures. Zemex, which is planning to acquire Inmet for C$517 million, wants to preserve Inmet's treasury. The company plans to use Inmet's expected C$400 million in treasury to help finance the takeover bid. According to Zemex President and CEO Richard Lister, the early payoff of debt would be a deal breaker. Inmet President and CEO Bill James, said that the company will not pay off the debts to push the deal through.

Comment:

Will cancel its proposed acquisition of Inmet Mining if the latter company pays off its C$125-million in debentures

United States, Asset sales & divestitures, All Other Nonmetallic Mineral Mining, Minerals & Rocks NEC, Nonmetal mining, Nonmetallic mineral deposits, Zemex Corp., Article, Inmet Mining

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Placer says Marcopper Mining responsible for river cleanup

Article Abstract:

Vancouver, BC-based Placer Dome Inc. and Philippines-based Marcopper Mining Corp. have agreed that Marcopper will clean up pollution along the Boac River. Marcopper Mining, which is owned by Philippines-based F Holdings Corp., was praised by environmental protection groups for its action.

Capital expenditures, Copper Mines, Waste Management and Remediation Services, Water Pollution, Mining & Extractive Industries, Mining, Pollutants produced & recycled, Management, Laws, regulations and rules, Finance, Copper mining, Environmental aspects, Pollution control industry, Philippines, Placer Dome Inc., PDG, Marcopper Mining Corp.

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Aur to hedge copper production

Article Abstract:

Aur Resources Inc. has reached an agreement to hedge a percentage of its copper production for the 2000-2004 period. The company will hedge copper production by 40% in order to obtain financing worth US$170 million for its purchase of the Quebrada Blanca mine in Chile.

Facilities & equipment, Production management, Copper Ore, Chile, Buildings and facilities, Copper ores, AUR Resources Inc.

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