HONG KONG – Minmetals Resources LTD. says it has secured ownership of Anvl Mining Ltd. (TSX:AVM) after acquiring 90 per cent of the company’s shares at eight-dollars each.
Hong Kong-listed Minmetals, which is majority owned by China Minmetals Nonferrous Co., Ltd., says Anvil will now be now delisted from the Toronto Stock Exchange and Australian Securities Exchange.
Anvil also announced that all its directors, except CEO Darryll Castle, have resigned from the Anvil board at the request of MMRm, which has appointed alternative directors to the board.
Minmetals CEO Andrew Michelmore says completion of the $1.3 billion deal marks a significant step forward in MMR’s growth strategy.
“Anvil is the first step in the expansion of MMR’s global footprint,” he said.
“This acquisition will add a pure copper play to our already diversified portfolio of base metals assets, and propel us further along our growth trajectory.”
Anvil is an African-focused base metals mining and exploration group.
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