The company’s general manager of business development Michael Nossal told reuters that it will be very much looking for additional projects and/or acquisitions in the central African copper belt, in both DRC, Zambia and southern African countries.
Through the deal, Minmetals picked up the principal assets of Anvil which include a 95% equity interest in the Kinsevere project and a 70% in the Mutoshi project, each located in the Katanga province in Congo.
The acquisition is expected to be completed in the first quarter of 2012.
The company’s board has also approved a further A$157m in expenditure towards progressing the Dugald River zinc project in Queensland, Australia.
Minmetals has reported an increase in mineral resources and ore reserves including a 104% increase in zinc ore reserves due to the inclusion of Dugald River.
