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China MCC: No Substantive Intention To Buy Indophil Resources
Jul 15,2010 14:03CST
industry news

SHANGHAI, Jul 15, 2010 (Dow Jones Commodities News via Comtex) -- China Metallurgical Group Corp. said Thursday it currently doesn't have any substantive intention to purchase Australian copper-gold explorer Indophil Resources NL (IRN.AU).

"We always have interests in overseas mining assets, but currently, there's no intention or progress in this regard," said an official from MCC's investors relations department.

The comment follows a report earlier Thursday from the Australian Financial Review that MCC and China Minmetals Group are among potential purchasers of Indophil.

An executive from China Minmetals also said the company hasn't been in touch with Indophil.

The paper said in its Street Talk column that it "understands" the two Chinese companies are among the potential purchasers of Indophil to have been granted access to its data room.

Indophil had said Wednesday it was in takeover talks with a number of groups after a failed A$545 million buyout attempt by diversified Chinese miner Zijin Mining Group Co. (601899.SH).

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