10:24pm 06/20/01
Anglo-American reportedly bids for WMC; WMC soars - CBS MarketWatch.com
WMC Ltd. is an Australian diversified resources company engaged in the discovery, development, production, processing and marketing of minerals and metals. WMC is a major nickel producer, one of
Australia's major gold producers and a significant Australian producer of copper and uranium oxide. WMC also owns 39.25% of Australian and 40% of the non-Australian assets of Alcoa World Alumina and
Chemicals, a producer of bauxite, alumina and alumina-based chemicals. During 1999, WMC's mineral interests outside Australia included mineral exploration properties in Canada, the United States, Brazil, Chile,
China, Indonesia, the Philippines, French Guiana, Cuba and Uzbekistan. WMC's other activities include mining and producing talc for the paper, plastics and paint markets, as well as distributing fertilizers.
WMC Ltd. and its subsidiaries explore, develop, process, and market industrial minerals and metals such as nickel, gold, copper and uranium oxide. WMC also produces bauxite, alumina and fertilizer. For the six
months ended 6/30/00, revenues rose 74% A$1.51 billion. Net income before U.S. GAAP totaled A$402.7 million, up from A$18.4 million. Revenues reflect increased nickel and aluminium sales. Net income
reflects higher nickel prices and lower aluminium unit costs. |
