Molybdenum News Center

Japan's Sumitomo has Right to Match Bid

Japan's Sumitomo Metal Mining Co Ltd and Sumitomo Corp, which own the remaining 20 percent of Northparkes, have rights to match China Molybdenum's bid. Sumitomo confirmed that, but otherwise declined to comment on the deal.

The Japanese may want to increase their stake in the mine, but are unlikely to buy the full 80 percent, said banking sources who declined to be named as they are not directly involved.
 

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