Minmetals' $6.5B buyout of Equinox 'would cut risks'

摘要

Minmetals Resources Ltd.'s Canadian $6.3-billion ($6.5-billion) buyout proposal for Equinox Minerals Ltd. is preferable to Equinox's plan to acquire Lundin Mining Corp. because it would cut gearing and exposure to geopolitical risks, according to Minmetals chief executive officer Andrew Michelmore. Lundin's exposure to the mining industry in the Democratic Republic of Congo through its 24-percent stake in the Tenke Fungurume copper and cobalt project would raise the risk profile of an expanded Equinox, Michelmore said during a conference callMonday.