Minmetals Resources Limited Completes Compulsory Acquisition of Remaining Common Shares of Anvil Mining Limited

HONG KONG, March 20, 2012 /PRNewswire-Asia/ -- Minmetals Resources Limited ("MMR") announced today that its wholly-owned indirect subsidiary, MMG Malachite Limited (the "Offeror"), has successfully acquired the remaining 3,191,482 common shares (including common shares subject to CHESS Depositary Interests ("CDIs") (the "Common Shares") of Anvil Mining Limited ("Anvil") not already owned by the Offeror, representing approximately 1.93% of the issued and outstanding Common Shares, pursuant to a previously announced compulsory acquisition carried out pursuant to the provisions of the Business Corporations Act (Northwest Territories).  As a result of such acquisition, MMR now has indirect ownership of 100% of the issued and outstanding Common Shares.

MMR also announced that the Common Shares were delisted from the Toronto Stock Exchange and the CDIs were delisted from the Australian Securities Exchange as of the close of markets today in Toronto and Sydney, respectively. 

MMR further announced that it intends to cause Anvil to apply to the relevant securities regulatory authorities to cease to be a reporting issuer under Canadian securities laws.

About Anvil

Anvil, an indirect wholly-owned subsidiary of MMR, is an African-focused base metals mining and exploration group.  The principal assets of Anvil are a 95% equity interest in the Kinsevere Project and a 70% equity interest in the Mutoshi Project, each located in the Katanga province of the Democratic Republic of the Congo (the "DRC").  Anvil also holds 14.5% of the issued and outstanding capital in Mawson West Limited, and has a number of exploration properties in the DRC.

About MMR

MMR, a company incorporated under the laws of Hong Kong, together with its subsidiaries and jointly-controlled entities and associates, owns and operates a portfolio of significant base metal mining operations, development and exploration projects. MMR is one of the world's largest producers of zinc, and is engaged in mining, processing and production of copper, lead, gold and silver. MMR currently has mining operations located in Australia and Laos and a large portfolio of advanced and early stage exploration projects in Australia, Africa, Asia and North America. The shares of MMR are listed on the Main Board of the Hong Kong Stock Exchange (Stock Code: 1208). China Minmetals Corporation is the ultimate controlling shareholder of MMR.

Caution Regarding Forward Looking Information

This announcement contains statements that are "forward-looking statements".  The words "expect", "will", "may", "should", "could", "intend", "estimate", "propose" and similar expressions identify forward-looking statements.  Such forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Offeror and MMR, are inherently subject to significant business, economic and competitive uncertainties and contingencies.  Readers are cautioned that such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements and the forward-looking statements are not guarantees of future performance or achievement. These risks, uncertainties and other factors include, but are not limited to: actions taken by Anvil; inaccuracies or material omissions in Anvil's publicly available information or the failure of Anvil to disclose events or facts which may affect the significance or accuracy of such information; changes in applicable Laws; general business and economic conditions; legislative and/or regulatory changes; the ability of MMR and the Offeror to complete or successfully integrate the acquisition; and the behaviour of other market participants. No assurances can be given that such forward-looking statements will prove to have been correct. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this announcement. The Offeror and MMR disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable laws.

Further information