Company History
2011 onwards
Minmetals Resources Limited (MMR) comprises the MMG group of companies and their operations which it acquired on 31 December 2010.
These include the Century zinc mine, Golden Grove base and precious metals mine, Sepon copper and gold operation and Rosebery polymetallic mine in addition to a suite of development and exploration projects across Australia, Asia, Africa and North America. These operations continue to operate under the MMG brand.
Prior to the acquisition of MMG, MMR was principally engaged in the trading and manufacturing of non-ferrous metals, ores and metallic finished products.
The acquisition of MMG repositioned the company as an international, diversified upstream base metals company.
With this renewed focus, MMR announced that it would divest its trading, fabrication and other businesses to China Minmetals Non-ferrous Metals Co., Ltd on 15 September 2011. This transaction was approved at an extraordinary general meeting on 28 October 2011.
Prior to 2011
MMR was incorporated in Hong Kong on 29 July 1988 and on 15 December 1994 its shares were listed on the Hong Kong Stock Exchange.
MMR completed its debts and capital restructuring on 12 January 2004 and China Minmetals Corporation (CMC) became its ultimate controlling shareholder. At this time, the company was known as Oriental Metals (Holdings) Company Limited, which was changed to Minmetals Resources Limited on 4 August 2005.
Prior to divestment of the trading, fabrication and other businesses in 2011, MMR’s downstream assets were predominantly located in China. These assets included Minmetals Aluminium Co. Ltd. and North China Aluminium Co. Ltd and their respective subsidiaries.
There were also a number of jointly controlled entities and associate companies that included: Guangxi Huayin Aluminium Co., Ltd, Changzhou Jinyuan Copper, Qingdao M.C. Packaging Limited, Yingkou Orienmet Plica Tube and Sino Nickel Pty Ltd.
MMG
2009: MMG is formed on 17 June 2009 from the sale of a number of assets from OZ Minerals Limited to China Minmetals Non-ferrous Metals Co., Ltd – a subsidiary of CMC.
2008: Zinifex Limited and Oxiana Limited merge to form OZ Minerals. The name OZ Minerals drew on the strong heritage of both companies.
2007: Zinifex Limited acquires Wolfden Resources Limited and the Izok and High Lake projects.
2006: Zinifex Limited is listed on the Australian Stock Exchange owning the Century and Rosebery mines and the Dugald River zinc deposit.
2005: Oxiana Limited acquires the Golden Grove mine from Newmont Limited.
2004: Oxiana Limited acquires the Sepon copper and gold projects from Rio Tinto.
China Minmetals Corporation
MMR’s ultimate controlling shareholder is China Minmetals Corporation (CMC), one of China’s major multinational state-owned enterprises. CMC is a diversified company with businesses in metals trading, ferrous and non-ferrous metals production, finance, real estate and logistics.
China Minmetals Corporation was founded in 1950. It is a major international conglomerate that is involved in development, production, trading and integration services of metals and minerals, in addition to its finance, real estate and logistics divisions/businesses.
China Minmetals Corporation is the ultimate holding company of China Minmetals Non-ferrous Metals Co., Ltd, which was formed in 2001.