Chinese Minmetals to acquire Noranda
According to recent industry news, Chinese Minmetals is in exclusive talks with the Canadian metals group Noranda to acquire the mill.
The deal is expected to be concluded at Canadian$7 billion ($5.5 billion). If the deal is concluded successfully, Minmetals will acquire zinc, copper and nickel assets, including Falconbridge, in which Noranda has 60% stake. Falconbridge is the world's third-biggest nickel producer.
It is stated that international mining groups such as
Brazil's CVRD, Anglo-American XStrata and
Australia's
BHP have also shown interest in Noranda. However, Minmetals is reportedly willing to pay more for the assets of the company.