Aditya Birla Group in talks to sell Oz Mt Gordon mine
5 Nov 2014 10:47 PM GMT
Aditya Birla Minerals, owned by the Aditya Birla Group, is in talks with a potential buyer to sell its Mt Gordon copper mine in Australia.
After putting the mine operations under 'care and maintenance' for the last 18 months, the company has said it has already started negotiations with a 'third party' for sale.
Aditya Birla Minerals, a copper mining company located in Australia, has operations in Western Australia and Queensland.
The company conducts copper mining and exploration activities at the Nifty Copper Operation in Western Australia and the Mt Gordon Copper Operations, near Mt Isa in Queensland.
'As part of the strategic review of the company's Mt Gordon operations, management is presently in negotiations with a third party for the potential disinvestment of 100 per cent shares in Birla Mt Gordon,' the company said.
'These negotiations may or may not conclude successfully, however the market will be informed appropriately if the Board takes any decision to enter into a binding sale agreement,' it added.
After putting the mine operations under 'care and maintenance' for the last 18 months, the company has said it has already started negotiations with a 'third party' for sale.
Aditya Birla Minerals, a copper mining company located in Australia, has operations in Western Australia and Queensland.
The company conducts copper mining and exploration activities at the Nifty Copper Operation in Western Australia and the Mt Gordon Copper Operations, near Mt Isa in Queensland.
'As part of the strategic review of the company's Mt Gordon operations, management is presently in negotiations with a third party for the potential disinvestment of 100 per cent shares in Birla Mt Gordon,' the company said.
'These negotiations may or may not conclude successfully, however the market will be informed appropriately if the Board takes any decision to enter into a binding sale agreement,' it added.
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