Minmetals is not finished acquiring companies to add to its stable of base metal mines, according to Bloomberg.
The state-run Chinese miner, with operations in Australia and Laos, a month ago snapped up Anvil Mining for $1.3 billion, thus expanding its reach into Africa. Anvil's key asset is the Kinsevere mine, located in the Democratic Republic of Congo.
Bloomberg reports the firm is planning more takeovers crusher for sale because it needs to extend the life of its mines and boost valuations. Minmetals' stock is undervalued compared to other comparable raw materials producers and consummating more deals would help raise its valuation, says the story, quoting a manager at First Asset Investment Management Inc.:
"Minmetals' mines have relatively short mine lives. grinding mill for sale They definitely would be an acquirer and it would certainly help."
According to Bloomberg, the most likely targets are Mirabela Nickel Ltd. (ASX:MBN), which owns the Santa Rita nickel mine in Brazil, and Alumina Ltd. (NYSE:AWC), which owns 40% of Alcoa, the biggest U.S. aluminum producer.
Minmetals had previously bid for Vancouver-based copper sbm malaysia producer Equinox Resources but lost it to Barrick Gold Corp. (TSE:ABX), which paid $7.3 billion. The move was seen as a diversification by gold-centric Barrick into copper.
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