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Nevsun and Sunridge leap as Eritrea requests meeting
From Reuters
Tuesday, January 4, 2004
http://www.reuters.com/financeQuoteCompanyNewsArticle.jhtml?
duid=mtfh43595_2005-01-04_20-04-49_n04434932_newsml
VANCOUVER, British Columbia -- Talks between Noranda Inc.
and China Minmetals are continuing, a Minmetals spokesman
said on Tuesday, seven weeks after the large Canadian miner
ended exclusive talks with its state-owned suitor and opened
the field to others.
"No door has been shut and negotiations and discussions are
ongoing and cordial," said David Weiner, a Minmetals
spokesman based in Toronto.
A source close to the talks said that one "lesson of doing
business with China" was that things took longer to finish.
Noranda's stock price has stayed in a tight band since Sept.
24 when the Toronto-based company announced it would
negotiate exclusively with Minmetals, which was looking at
buying Noranda for a "small premium" to its then market
value.
On Tuesday, Noranda, the world's third-biggest zinc and
ninth-largest copper producer, was 17 Canadian cents
weaker at C$20.89.
The Minmetals-Noranda talks have sparked controversy in
Canada because of China's human rights record and
because Minmetals is government-owned.
Canadian Prime Minister Paul Martin is scheduled to visit
China later this month as part of a broader trip to that
region.
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