OZ Minerals: Zinifex, wie haste dir verändert!
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OZ Minerals today announced it has received an extension to the refinancing date for debt facilities A and B to 27th February 2009. Societe Generale has also extended the repayment date for facility C to 27th February. Both extensions are subject to confidential conditions. The lenders to facility A have agreed to seek internal approvals to provide a short term bridge loan facility and have been requested to respond by 9 January. As at 23 December, OZ Minerals cash balance was A$169.2m. The company has received a number of expressions of interest for selected assets including for a majority stake in Prominent Hill and expects to make further progress on asset sales during January. An extension to the suspension of trading in OZ Minerals shares to February 27th has been granted by the ASX as OZ continues to negotiate the refinancing. Please find attached two ASX announcements detailing the share suspension extension and the debt refinancing update.
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Denke das sind die Hoffnungen auf Konjunkturprogramme.....
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Wertpapier: OZ Minerals |
January 12, 2009 19:00 EST -- OZ Minerals Ltd., the world’s second largest zinc mining company, shuttered its Scuddles mine at the Golden Grove operation in Western Australia state because of declining commodity prices.
January 20, 2009 19:15 EST -- OZ Minerals Ltd., the world’s second-largest zinc mining company seeking to refinance debt, said good progress is being made on securing bridging finance to maintain its operations.
Oz Minerals May Announce Bridging Finance Today, Review Reports
January 20, 2009 15:32 EST -- Oz Minerals Ltd. may announce today it has secured finance to maintain operations until it has resolved debt funding issues, the Australian Financial Review said.
Quelle : http://www.bloomberg.com/apps/news?pid=conews&tkr=OZL%3AAU
January 22, 2009 04:21 EST -- OZ Minerals Ltd., the world’s second-largest zinc miner, secured a bridging loan of as much as A$140 million ($92 million) to maintain operations as it seeks to refinance at least $560 million of debt by next month.
Copper Rises in London as U.S. Stimulus May Help Revive Demand February 13, 2009 08:21 EST --a Copper rose in London on anticipation the U.S. stimulus package may help revive economic growth and boost demand in the world’s second-largest consumer of the metal.
OZ Minerals Slows Zinc, Lead Shipments From Century on Rain February 12, 2009 20:26 EST -- OZ Minerals Ltd., slowed shipments of zinc and lead concentrate from the world’s second-largest zinc mine because of heavy rain in Australia’s Queensland state. OZ Minerals May Write Down Assets by A$2.8 Billion (Update1) February 12, 2009 19:31 EST --
OZ Minerals Ltd., the world’s second- largest zinc mining company, may write down the value of its assets by as much as A$2.8 billion ($1.8 billion) after prices for metals slumped.
Quelle: http://www.bloomberg.com/apps/news?pid=conews&tkr=OZL%3AAU
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Wertpapier: OZ Minerals |
MONDAY 16 FEBRUARY 2009
Please click on the attached announcement detailing today’s offer of 82.5cps (50% premium to last trade) for all the shares of OZ Minerals by China Minmetals via a scheme of arrangement. The offer has been recommended by the OZ Minerals Board.
Please refer to the OZ Minerals website for details on a web cast to be held today and also for the accompanying presentation.
Australia Needs to Develop Uniform China Mine Policy (Update2)
By Madelene Pearson and Gemma Daley
Feb. 20 (Bloomberg) -- Australia needs to develop a uniform policy response to attempts by Chinese state-owned companies to buy mines in the world’s biggest exporter of iron ore and coal, Equity Trustees Ltd. said.
“It’s going to be very difficult at a policy level to necessarily knock one back and allow one to go through,” said Shaun Manuell, head of asset management at Equity Trustees, which manages A$1.1 billion ($708 million), including Rio Tinto Group stock. “They are going to need a common policy towards allowing China and foreign investment.”
ASX release:
OZ Minerals secures approval from banking syndicate
OZ Minerals is delighted to advise the market that it has today secured the approval of its financiers,
subject to the completion of necessary documentation, to extend the terms of its debt arrangements to 31
March 2009 and therefore expects to satisfy the second of the two Pre-Conditions in the Scheme
Implementation Agreement covering the Minmetals’ all cash offer for OZ Minerals, as outlined in the
Company’s announcement of 16 February.
“This outcome represents a significant step in the process of delivering this transaction to OZ Minerals’
shareholders for their final decision,” said OZ Minerals Managing Director and CEO Andrew Michelmore.
“The proposed transaction remains subject to regulatory review and satisfaction of the other Conditions
Precedent, as detailed in our earlier announcement.”
As stipulated in the remaining conditions outlined in the Scheme Implementation Agreement, OZ Minerals
will now continue work with its financiers to secure their consent, by 1 April, to extend the financing
facilities until after implementation of the Scheme of Arrangement.
Other conditions precedent to the Scheme, as detailed in the 16 February announcement, remain to be met and both parties continue to work towards their satisfaction.
ozTopStory: Der australische Finanzminister Wayne Swan hat am Freitag der geplanten Übernahme der OZ Minerals Ltd für 2,6 Mrd AUD durch die China Minmetals Nonferrous Metals Co in ihrer bisherigen Form einen Riegel vorgeschoben, weil sich der wichtigste OZ-Betrieb Prominent Hill in einer militärischen Zone befindet. Damit gerät die hoch verschuldete OZ Minerals in eine noch schwierigere Lage, da sie bis Ende des Monats einen Aufschub für Verbindlichkeiten von 1,1 Mrd AUD braucht. Die Banken dürften für einen weiteren Monat eine Stundung gewähren, jedoch sind die weiteren Folgen der Entscheidung nicht klar. Möglich sind Implikationen auch für andere große Investmentpläne chinesischer Körperschaften in Australien, so auch die Beteiligungsaufstockung der Aluminum Corp of China (Chinalco) bei Rio Tinto Ltd. Allerdings sind Analysten geteilter Meinung darüber, was die Entscheidung für Chinalco bedeutet. Die australische Wettbewerbsbehörde hat in der abgelaufenen Woche die Erhöhung des Anteils an Rio Tinto auf 18% von 9% durch Chinalco genehmigt. Nun stellt sich die Frage, ob die Regierung des Landes bei ihrer Beurteilung des Rio-Chinalco-Geschäfts eine ähnlich harte Linie wie bei OZ Minerals verfolgen wird.
Minister Swan erklärte, der Bergbaubetrieb Prominent Hill befinde sich im südaustralischen Waffentestgelände Woomera Prohibited Area. Es sei nicht unüblich, dass Regierungen aus Gründen der nationalen Sicherheit den Zugang zu sensitiven Regionen beschränkten, heißt es in der Erklärung. OZ-CEO Andrew Michelmore verwies auf Verhandlungen über mögliche Änderungen der Transaktion und kündigte eine baldmögliche Mitteilung an. Mit den Banken fänden “konstruktive” Gespräche wegen der Kreditverlängerung statt. Die Aktien von OZ Minerals wurden am Freitag vom Börsenhandel ausgesetzt. Für das Unternehmen sei die Entscheidung Swans zweifellos ein schwerer Schlag, erklärte ein Analyst. OZ Minerals könne nur darauf hoffen, dass sich bei einer Erholung der Metallpreise eine Möglichkeit der Kapitalaufnahme auftut, um die Schulden abzuzahlen. Die Kupfer-Gold-Mine Prominent Hill ist das Flaggschiff-Projekt des Unternehmens. Es soll bis Mitte des Jahres 85% der Nennkapazität von 8 Mio jato Erz und bis Ende 2009 die volle Kapazität erreichen und dann 85.000 bis 100.000 t Kupferinhalt sowie 60.000 bis 70.000 Unzen Gold mit Kassakosten von 65 bis 75 US-cts je lb produzieren. financial.de
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Wertpapier: OZ Minerals |
Australian Government approval
OZ Minerals has been advised that the Treasurer of the Commonwealth of Australia has today announced that he has approved the proposed acquisition by China Minmetals Non-Ferrous Metals Co. Ltd. (“Minmetals”) of all of the assets of OZ Minerals except for Prominent Hill (and related exploration leases), Martabe (and related exploration leases), certain exploration leases in Thailand and Cambodia and all of OZ Minerals’ listed equity investments (“Sale Assets”). The approval has been given following Minmetals having provided and accepted certain undertakings, which have been detailed in the Treasurer’s announcement.
A copy of the full statement from the Treasurer will be available at www.treasurer.gov.au
As announced by the Company on 14 April, Minmetals will pay OZ Minerals consideration of US$1,206 million for the Sale Assets. Consistent with a sale of business on a "cash free, debt free" basis and based on normal levels of working capital, the actual amount received by OZ Minerals at completion of the transaction will be subject to certain adjustments related to the working capital, net debt and agreed tax liabilities of the assets sold to Minmetals. These adjustments will be calculated as at month end prior to completion date.
“We are very pleased that the Treasurer has approved this transaction”, said Barry Cusack, Chairman of OZ Minerals, “as it is the best currently available solution that resolves all of the Company’s refinancing issues.
“A resolution authorising the sale of these assets to Minmetals will be put to shareholders at OZ Minerals’ upcoming Annual General Meeting and, in the absence of a superior proposal, the Board of OZ Minerals unanimously recommends that shareholders vote in favour of the sale.
“Throughout this transaction, Minmetals have demonstrated their commitment to developing a substantial business in Australia”, Mr. Cusack added, “and they have indicated to me their desire to meet with employees and other stakeholders impacted by the transaction as soon as feasible”.
Andrew Michelmore, Managing Director and CEO of OZ Minerals, added “Following today’s announcement by the Treasurer, OZ Minerals is one critical step closer to implementing the proposed transaction with Minmetals and resolving its refinancing issues. At completion of the transaction, OZ Minerals will continue to own the newly-producing Prominent Hill copper-gold mine in South Australia and other prospective assets and will have net cash on the balance sheet to enable it to develop into the future.”
OZ Minerals remains in negotiations with its lenders to extend the date by which certain of its lending facilities must be refinanced from 30 April 2009 to 30 June 2009. Such an extension would be sufficient to allow the proposed transaction with Minmetals to complete, based on the Indicative Timetable outlined below.
Indicative timetable
Remaining key regulatory and financing approvals
Remaining key regulatory and financing approval Around mid May (and no later than two weeks prior to the Annual General Meeting)
Shareholders receive explanatory materials and proxy forms On or about 12 May 2009
Annual General Meeting On or about 12 June 2009
Completion Mid/late June 2009
OZ Minerals is being advised in this transaction by Caliburn Partnership, Goldman Sachs JBWere and Freehills.
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Wertpapier: OZ Minerals |
China Minmetals Nonferrous Metals Co increased its offer from $US1.2 billion. OZ Minerals board…
endorsed the revised offer, announcing its decision in an email just before midnight.
OZ Minerals says Minmetals deal is best Latest
OZ Minerals has assured shareholders Minmetals' offered the best deal to ensure a future…
Nonferrous Metals Co offer to buy most of OZ Minerals' assets for $US1.386 billion ($1.73 billion…
Mal sehen , wie sich das auswirken wird ?
TUESDAY 30 JUNE 2009
ASX Release
Martabe sale completed
OZ Minerals has completed the sale of the Martabe gold-silver project in Indonesia to China Sci-Tech Holdings Limited.
Total proceeds from the sale amount to US$217.5 million, being a principal amount of US$211 million, plus an additional amount of US$6.5 million in reimbursement for expenditure on the project between 1 April and completion.
Of this sum, an amount of US$2 million has been withheld by China Sci-Tech Holdings Limited pending final accounting adjustments.
The recent sale of assets to China Minmetals Non-Ferrous Metals Co., Ltd., has resolved OZ Minerals’ refinancing issues and strengthened its balance sheet, enabling the Company to restore normal mining rates at Prominent Hill and recommence studies into further expansion of that mine. OZ Minerals has also re-activated exploration programs in the highly prospective wider Prominent Hill area and elsewhere.
The proceeds from the sale of Martabe will further strengthen OZ Minerals’ balance sheet and enhances the Company’s financial stability and its capacity to pursue further options to grow shareholder value.
For further information please contact:
Natalie Worley
Group Manager – External Relations
T 61 3 9288 0345
M +61(0)409 210 462
http://www.ozminerals.com/Media/docs/...-4a3d-a835-05cc64ea3056-0.pdf
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...."The company said yesterday it would use the cash reserves to expand Prominent Hill and a Cambodian gold project rather than focus on new acquisitions.
A full feasibility study into underground mining operations at Prominent Hill was expected to be finished in the first half of 2010, at which time a decision to go ahead could be made.
``We could have underground production from Prominent Hill starting to come through during 2013,'' Mr Loveday said. A major exploration program was expected to start in late July to feed into this process.
The company also said production at Prominent Hill would meet its earlier estimates of 85,000-100,000 tonnes of copper and 60,000 to 70,000 ounces of gold, after starting production in May".
Zitat aus :
http://www.news.com.au/adelaidenow/story/0,,25819070-5016955,00.html