Japan's Toho Zinc Raises Bid for CBH Stake-Shanghai Metals Market

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Japan's Toho Zinc Raises Bid for CBH Stake

Industry News 09:49:21AM Mar 16, 2010 Source:SMM

SYDNEY, Mar. 16 -- Japan's Toho Zinc (5707.T: Quote) has raised its bid for a stake in Australian-listed zinc miner CBH Resources (CBH.AX: Quote) to knock out a rival offer from Belgian metals group Nyrstar (NYR.BR: Quote), CBH said on Tuesday.

CBH said Toho was now offering 25 cents a share for a maximum 49.9 percent of the company, which is set to more than double its annual output to 59,000 tonnes of zinc metal and 30,000 tonnes of lead from its main Endeavor mine in central Australia this year.


 

Japan's Toho Zinc Raises Bid for CBH Stake

Industry News 09:49:21AM Mar 16, 2010 Source:SMM

SYDNEY, Mar. 16 -- Japan's Toho Zinc (5707.T: Quote) has raised its bid for a stake in Australian-listed zinc miner CBH Resources (CBH.AX: Quote) to knock out a rival offer from Belgian metals group Nyrstar (NYR.BR: Quote), CBH said on Tuesday.

CBH said Toho was now offering 25 cents a share for a maximum 49.9 percent of the company, which is set to more than double its annual output to 59,000 tonnes of zinc metal and 30,000 tonnes of lead from its main Endeavor mine in central Australia this year.