MRE Minara Fpo

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0.00 (0.00%)

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Delayed by 20 minutes

Share Name	Share Symbol	Market	Type
Minara Fpo	ASX:MRE	Australian Stock Exchange	Ordinary Share

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.00	0.00%							0.00	-

Glencore Bids For Full Control Of Minara, Valuing Miner At A$1.02 Billion

24/08/2011 1:26am

Dow Jones News

Minara Resources (ASX:MRE)
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Swiss-based commodities trader Glencore International PLC (GLEN.LN) said Wednesday it will offer 87 Australian cents per share to buy out minority shareholders in Minara Resources Ltd. (MRE.AU). The bid values the Australian nickel miner at A$1.02 billion.

Minara, which produced 14,625 metric tons of nickel from its Murrin Murrin mine in the first six months of the year, was already 72.99% held by Glencore, and a regulatory statement released Wednesday said the stake had now risen to 73.44%.

Glencore also owns 60% of Murrin Murrin, Minara's only significant mining asset.

-By David Fickling, Dow Jones Newswires; +61 2 8272 4689; david.fickling@dowjones.com