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Home Steel News Zinifex plans to bid for Allegiance nickel mining company
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Zinifex plans to bid for Allegiance nickel mining company

19 Dec 2007 11:09 reported by Carol Dong

A A A
Zinifex is planning to develop other base metal business and bid US$775 million to take over the nickel miner- Allegiance.

Zinifex operates Century Mines of zinc and lead at current stage. For Zinifex, nickel is a good target for future development.

"I guess it depends on the price it eventually transacts at, but I suppose it means that the company is going about its business of growing the asset base and increasing the revenue stream and profits, and hopefully the dividends to shareholders," said mining analyst with ABN Amro Morgans, Chris Brown.

Allegiance is an Australian nickel mining company, which owns Avebury nickel mine.

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Metal Price Index

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LME Official Bid Price

  • USD / MT
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  • 3 Months
  • Zinc
  • 2,632.00
  • 2,658.50
  • Aluminum
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  • 2,506.00
  • Copper
  • 9,736.00
  • 9,670.00
  • Nickel
  • 14,970.00
  • 15,200.00

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