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Gold/Mining/Energy : GLAMIS GOLD - GLG

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To: Cage Rattler who wrote (432)	2/10/2005 9:54:51 PM
From: Peter Dierks	Read Replies (1) of 459

DJ Costello Says Rival WMC Bids May Also Need Ok Asked if any bid from BHP Billiton (BHP) and Rio Tinto Plc. (RTP) would have to be vetted by Canberra, Costello said: "They would have to apply and would be considered on their own merits." Both global miners have been tipped as potential rival bidders to Xstrata. Costello's ruling on Xstrata's bid, which currently stands at A$7.20 a share after being raised from the A$6.35 bid unveiled in November, followed scrutiny of the proposal by the government's Foreign Investment Review Board. "I want to make it clear that whether or not the bid is successful is a matter for the shareholders," he said in reference to Xstrata. WMC shares last traded at A$7.49 as investors bet on a higher offer emerging. WMC mines nickel in Western Australia and also owns the Olympic Dam copper and uranium mine in South Australia which has just under 40% of the world's uranium reserves. "I want to make it clear the mining and export of uranium is extremely closely controlled by state and federal laws regardless of the ownership," Costello said. He said permits are needed across the full spectrum of uranium operations from mining, transport, exports and sales. -By Eric Johnston, Dow Jones Newswires; 61-3-9614-2663; eric.johnston@dowjones.com -Edited by Ian Pemberton (END) Dow Jones Newswires February 10, 2005 19:31 ET (00:31 GMT)

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