Minorco - Acquisition

RNS No 3494c
MINORCO
3rd June 1998


MINORCO PURCHASES JOHNSON MATTHEY'S 
UK MINERALS BUSINESS

Minorco's European Industrial Minerals Division has expanded its British
interests with the purchase of Johnson Matthey's UK minerals business for
approximately #6 million.

UK Minerals, which will be integrated into the Industrial Products Division of
Tilcon South, is based near Stoke and employs around 70 people.  In addition
to operating a significant minerals trading and processing business, UK
Minerals is also a major supplier to the building products, refractories and
metallurgical industries.  In the year to December 1997, UK Minerals reported
an operating profit of around #900,000 on sales of #10.8 million. 

"The acquisition of UK Minerals is an ideal fit for us," said Robbie
Robertson, managing director of Minorco's European Industrial Minerals
Division.  "It introduces us to some new business areas and also complements
businesses that we are already in.  We expect certain synergies from the
purchase and plan to develop and grow the business," Mr Robertson added.

In March, Minorco's European Industrial Minerals Division announced that it
had invested over #60 million in expanding its UK business since the #330
million acquisition of Tilcon in December 1995.  

Minorco is an international natural resources group with operations and
investments in gold, base metals, industrial minerals, paper and packaging and
agribusiness.

Contact:

[phone]

Nick von Schirnding                            Carina Corbett
VP Investor & Corporate Affairs              Corporate Affairs Manager

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