Minara Resources

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Minara Resources Ltd
Type Public company (ASX: MRE)
Industry Raw materials / Merchant
Founded 1994
Headquarters Perth, Australia
Website www.minara.com.au

Minara Resources Ltd is one of the major mining companies of Australia, specializing in the exploration of cobalt and nickel. It is the no. 2 nickel mine in Australia.[1] It is wholly owned by the Swiss commodities trading firm, Glencore International as of November 2011. Based in Perth, Minara Resources was founded in 1994 as the successor to Anaconda Nickel Ltd. which was founded by Fortescue Metals Group chief Andrew Forrest; at one point it operated the Murrin Murrin Joint Venture in conjunction with Glencore International AG. In 2006, it had a capitalization of approximately $1.3 bn. At the time of the full merger between Minara and Glencore, it was valued at a total of $1.02 billion (Australian).[2] Minara applied on October 14, 2011 to have its stock (MRE) suspended from trading on the Australian Stock Exchange.[3]

Key personnel

Prior to its full takeover by Glencore its Board of Directors as of February, 2010 were:

  • Peter Coates — Chairman
  • Peter Johnston — CEO and Managing Director
  • John Morrison — non-executive director
  • Ivan Glasenberg — non-executive director
  • Willy Strothotte — non-executive director
  • Malcolm Macpherson — non-executive director
  • Marc Ocskay - alternate non-executive director

References

  1. ↑ Minara tells investors to accept Glencore bid. Reuters, September 19, 2011.
  2. ↑ Minara Resources backs takeover offer from Glencore, The Australian, From: Dow Jones, September 19, 2011
  3. ↑ Glencore mops up Minara Resources takeover, PerthNow, October 14, 2011.

External links

Mining companies of Australia
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