Look who's conspicuous by their absence, especially in light of recent mention as an acquisition target by xStrata.
"Xstrata eyes copper and platinum targets
Diversified miner Xstrata is likely considering a range of acquisition targets from South American copper to South African platinum, Numis Securities said on Friday.
Xstrata chief executive Mick Davis has said he has other acquisition possibilities despite losing out on a takeover of WMC Resources to BHP Billiton.
"This statement is going to cause concern among some potential target companies and anticipation at others," analyst John Meyer said in a research note.
"Significant shareholders, such as at Antofagasta, might see this as an opportunity to exit the business in a single move, presenting Xstrata with a £2,63-billion acquisition and a world-class copper-mining business in Chile," he said.
Davis might also be interested in Monterrico Metals, which is near to completing a bankable feasibility study on its Rio Blanco project, in order to build a new copper-mine.
Xstrata could also be looking at platinum firms Impala Platinum, Lonmin or Aquarius Platinum, since that precious metal has long been a favourite of Davis', Meyer said.
Other targets could be First Quantum Minerals for their copper business in Zambia, LionOre Mining International for their nickel business in Australia and Botswana, and Consolidated Minerals for its manganese and chromite ore operations in Australia.
Numis Securities said it is broker and adviser to Aquarius Platinum and Consolidated Minerals. |
