China’s Minmetals Resources Enters Africa

Minmetals Resources LTD. says it has secured ownership of African-focused base metals mining and exploration group, Anvil Mining Ltd, after acquiring 90 per cent of the company’s shares at eight-dollars each. The Hong Kong-listed Minmetals, which is majority, owned by state-run China Minmetals Nonferrous Co., said that it would now move to the compulsory acquisition of all remaining shares it did not already own. Upon the completion of the compulsory acquisition, Minmetals would delist Anvil from the Toronto Stock Exchange and Australian Securities Exchange. Anvil owns the Kinsevere copper mine inCongo, and Minmetals said in a statement that the mine…