A N$190 million deal, which will buy a Chinese parastatal the majority of the shares in Weatherly International Plc (WTI), will allow the copper producer to reopen its Otjihase and Matchless mines towards the middle of next year.
"The chances are very good that the transaction will go through before the end of January 2010," Weatherly Group Financial Director Kevin Ellis commented yesterday on a letter of intent (LOI), whereby the copper miner will issue 446,8 million shares to East China Mineral Exploration and Development Bureau (ECE) at 3,6 pence per share.
...
AllAfrica Subscription Content
You must be an allAfrica.com subscriber for full access to certain content.
You have selected an article from the AllAfrica archive, which requires a subscription. You can subscribe by visiting our subscription page. Or for more information about becoming a subscriber, you can read our subscription and contribution overview.
For information about our premium subscription services:
You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page »
Already a subscriber? Sign in for full access to article