Indonesia’s Delta Dunia entered into agreement with Australia’s 29Metals to subscribe for the latter’s shares, according to a filing.
- Agreement allows Delta Dunia’s indirect subsidiary Bukit Makmur to purchase 229.9m newly issued shares at A$0.27 apiece, giving minority interest of 19.9% in 29Metals
- Deal provides Delta Dunia with “valuable” exposure to copper and zinc
- 29Metals operates the Golden Grove mine in western Australia and the Capricorn Copper mine in Queensland
- 29Metals produced 26kt of copper and 60kt of zinc in the 12 months ending in Sep.
Source : Bloomberg.com
