Minmetals to Continue Equinox Takeover Bid

(Beijing) – Minmetals Resources Ltd. a unit of China's biggest metals trader, China Minmetals Corp., indicated April 12 it will continue its effort to purchase a controlling stake in Equinox Minerals Ltd., despite the earlier rejection by the latter.

Three Chinese banks will provide at least US$ 4.6 billion to fund the planned acquisition of the Australian copper miner, Minmetals Resources said in a filing to the Hong Kong Stock Exchange.