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Name | Symbol | Market | Type |
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Ft Minr | LSE:MINR | London | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 1,633.60 | 1,620.80 | 1,639.20 | 0 | 08:56:42 |
RNS No 44b MINORCO 16th June 1998 MINORCO SELLS CARBON BLACK BUSINESS TO PHELPS DODGE Minorco's 73%-held Brazilian subsidiary, Copebras S.A. is pleased to announce that it has agreed to transfer ownership of its carbon black business to Columbian Chemicals Company, a wholly owned subsidiary of international mining and manufacturing group, Phelps Dodge Corporation, for a total consideration of US$220 million. The transaction is expected to be completed within three months when the required permits have been obtained. This disposal represents another step in Minorco's strategy to concentrate on its core businesses. The Copebras facilities, located at Cubatao in Sao Paulo State, Brazil, consist of an integrated industrial plant comprising both the carbon black business and a phosphates business. Copebras also has a phosphate mine located at Catalao in Goias State. Copebras will continue to operate the phosphates business including a proposed joint venture with Albright & Wilson which was the subject of a Letter of Intent signed in October 1997. Minorco is an international natural resources group with operating interests in gold, base metals, industrial minerals, paper and packaging and agribusiness. Luxembourg - June 16, 1998 Contact: Nick von Schirnding Carina Corbett VP Investor and Corporate Affairs Corporate Affairs Manager +44 171 404 2060 +44 171 404 2060 END DISEQFFFVQKFBKD
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