Outokumpu continues mines divestment

摘要

Outokumpu Oyj of Finland has agreed to sell its Black Swan and Honeymoon Well nickel deposits in Western Australia (WA). The transaction is in line with the company's declared strategy of withdrawing from base metals mining (MJ, November 2,2001, p.333). The WA assets are to be acquired by a joint venture comprising Mining Project Investors Pty Ltd, which will hold an 80 percent interest, and the OM Group, which will hold the remaining 20 percent interest. The terms of the acquisition have not been disclosed, but Outokumpu values the projects at a combined 45 million euros, and notes that the transaction will not have a significant effect on its 2002 financial results.