Oz resources, the largest zinc producer in Austral
2022-10-15- Detail
Oz resources, the largest zinc producer in Australia, cannot have any defects when accepting the acquisition of China Minmetals. Oz resources, the largest zinc producer in Australia, has agreed to the proposal of China Minmetals to acquire at a $2.6 billion (US $1.7 billion). Oz resources, Australia's largest zinc producer, has agreed to China Minmetals' proposal to acquire for a $2.6 billion (US $1.7 billion)
this acquisition is another project for Chinese state-owned enterprises to enter Australian mineral resources after Chinalco invested US $19.5 billion in Rio Tinto
oz CEO Andrew michelmore said at a press conference that it must be recognized that our current market is all about indentation test methods. From September to October, metal commodity prices fell sharply: Copper fell by 68%, zinc fell by a record high of 48%. Combined with the debt situation, this is a considerable loss. Michelmore said that oz had considered many other companies and verified the design and final production process, but Minmetals Group was the only company that proposed an overall acquisition
oz is one of the large mining groups in Australia. Its annual output of zinc ore in Queensland, Australia is about 500000 tons, and it is the second largest zinc producer in the world. Oz, formerly known as oxiana limited, was later merged by Australia's international mining companies oxiana limited and zinifex limited. The company produces zinc, copper, lead, gold, silver and a small part of nickel. The company has development projects in Australia, Asia and North America
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