CBH launched a takeover bid for Perilya about three months later but this was abandoned in January 2009. CBH also operates a shiploading facility at Newcastle, NSW which handles the export of mineral concentrates on behalf of a number of NSW mines. London Metal Exchange three-month zinc sells for around 1,930 a tonne, down about 17 percent since March 26, hurt by slowing demand and rising inventories. Perilya earlier this year said it was holding A$116.7 million in cash and ready to pursue growth opportunities. CBH Resources Limited | 1,067 follower su LinkedIn | CBH Resources Limited is a significant producer of silver, lead and zinc in Australia. Facebook is showing information to help you better understand the purpose of a Page. Perilya and CBH agreed to a friendly merger in March 2008 but mutually terminated the agreement four months later. At present, Nyrstar buys all the lead mined by CBH, though the more-prized zinc ore is bought by Toho and refined in Japan. Japanese manufacturer of zinc related products, Toho Zinc Co., Ltd. (TYO:5707)'s takeover of ASX-listed CBH Resources is “fair and reasonable” according to CBH Resources. The company operates the Endeavor Mine at Cobar, and has developed the Rasp Mine at Broken Hill.

“In the end, both companies want to secure long-term supplies of the concentrates that CBH promises.” Toho offered 25 Australian cents per share for no more than 49.9 percent of CBH on Tuesday, valuing the entire company at A$274 million. Product/Service. * Australia zinc miner CBH gets A$148 mln offer from Nyrstar CBH Resources said it would reduce 161 full-time employees, plus 40 contractors, to just 71 people. * CBH weighing latest Toho vs Nyrstar offers as it readies * Battle is for prized zinc concentrates from new mine * Analysts cite Perilya as possible third suitor (Releads, adds detail) The winner of CBH would be able to redirect almost 60,000 tonnes of zinc in concentrate annually from CBH’s Endeavor mine and a massive 750,000 tonnes of lead and zinc concentrate a year from CBH’s yet-to-be-developed Rasp deposit.

Lead output over the period should climb to around 6,210 tonnes from a reported 4,600 tonnes. The offers come as CBH reactivates equipment idled in 2008 when zinc prices crashed, that will allow it to more than double production to 59,000 tonnes of zinc metal and 30,000 tonnes of lead annually for the next seven years or so.
World refined zinc use rose 36 percent year-on-year to 932,100 tonnes in January 2010, International Lead & Zinc Institute figures show. CBH on June 17 said it was cutting more than a third of its work force at the Endeavor mine, located in eastern Australia, to save costs as it combats declining prices for the anti-rusting steel alloy after spending more than A$90 million ($86 million) on upgrading operations. “Toho does not want to let this one go, it’s too important to them,” said Tony Parry, a mining analyst with Resource Capital Research. Nyrstar owns 19.9 percent of Australia-listed Ironbark Ltd ( Analysts added that Perilya Ltd PEM.AX, which mines zinc next door to the Rasp deposit, is also a potential suitor. 29 likes.

[ID:nSYD230541] Fellow miner Perilya Ltd PEM.AX on June 24 rejected as inadequate a sweetened 3.5 CBH shares for every Perilya share takeover offer from CBH aimed at yielding a combined 220,000 tonnes of zinc and 100,000 tonnes of lead each year.

Australian zinc miners Perilya Ltd and CBH Resources Ltd said on Thursday they had had discussions about a potential merger, but cautioned no agreement was imminent. Perilya said there have been a number of material changes to the two companies’ operations and to market conditions since the original three-shares-for-one offer was made on March 26. ... are then dried for rail freighting with the lead concentrate shipped to smelters at Port Pirie in South Australia and zinc concentrates to Newcastle for export into overseas markets predominately China. Its offer comes just days after Nyrstar bid A$214 million or A$0.195 per share. Based on last year’s June quarter company production figures, the rise will take zinc output to around 13,720 tonnes versus a reported 10,400 tonnes in last year’s quarter ended June 30, 2007.

Commissioned in 1983 as the Elura Mine, the site has been operated by CBH since 2003 at which time the site was renamed Endeavor. CBH Chapions. CBH in December rejected a A$0.135 a share offer from Nyrstar and instead agreed to sell 50 percent of the Rasp project to Toho, its largest shareholder with 24.1 percent. THE managing director of CBH Resources, Bob Besley, says the miner remains focused on plans to triple zinc production by 2010 despite a stoush with its main shareholder, Japan's Toho Zinc.


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