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April 19, 2011

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Home » Business » Energy

Fundraising

MINMETALS Resources Ltd, a unit of China's largest metals trader, plans to raise as much as HK$6.72 billion (US$864 million) by selling shares to fund a zinc project and exploration, according to a term sheet for the transaction.

Minmetals will sell as many as 1.2 billion shares at HK$5.20 to HK$5.60 (67 to 72 US cents) each, the term sheet obtained yesterday by Bloomberg News showed. The proceeds will be used to develop the Dugald River zinc project and other exploration activities, it said.



 

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