Business Services Industry
Lonmin sparks talk of mining mergers.
Australasian Business Intelligence, February, 2006
Byline: Jamie Freed
Feb 19, 2006 (The Age - ABIX via COMTEX) -- Lonmin, the resources company headquartered in South Africa (SA), is said to be the target of takeover moves. Sources claim the predator is fellow SA group Gold Fields, but other bidders for the platinum miner are likely to take part in what would be the start of the latest wave of consolidation in the sector. Dual-listed Australian resources groups Rio Tinto and BHP Billiton saw the
positive effect of the speculation on their stock in London on 17 February 2006. While the two have in the past been cautious about acquiring assets in SA, a strong contender
would be Swiss group Xstrata. Another...
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