Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (18032)	4/18/2008 8:44:01 PM
From: LoneClone	Read Replies (1) \| Respond to of 192884

Zinifex in Talks for Future Mine Ventures, CEO Says (Update1) By Jesse Riseborough bloomberg.com April 18 (Bloomberg) -- Zinifex Ltd., which last month agreed to a A$5.4 billion ($5.1 billion) takeover from Oxiana Ltd., is in talks with customers for partnerships to develop new mines. ``We have just started those initial talks and particularly by putting the companies together we are able to say `now look, look at the spread at what we have got,''' Chief Executive Officer Andrew Michelmore said today at an industry luncheon in Melbourne. ``We are seeing customers who have the investment expertise and the links to the market downstream.'' Oxiana agreed to buy Zinifex to create the world's second- largest zinc miner. It will also produce copper and gold and have projects in Australia, Laos, Indonesia, Cambodia, Thailand and Canada. Metals customers may seek a ``strategic block'' in future projects to secure long term supply, Michelmore said. ``It might be where we are looking at an opportunity in another country where maybe this does need some risk management by bringing in other companies,'' he said. Zinifex fell as much as 38 cents, or 3.6 percent, to A$10.11 and traded at A$10.15 at 3:02 p.m. Sydney time on the exchange. Melbourne-based rival Oxiana agreed to buy Zinifex for 3.1931 of its shares for each Zinifex share on March 3. Zinifex is negotiating sales contracts for future zinc and lead output from its Dugald River project in Australia, he said. The company won't be seeking a partner for this project, he said. To contact the reporter on this story: Jesse Riseborough in Melbourne at jriseborough@bloomberg.net Last Updated: April 18, 2008 01:38 EDT