Shareholders in Australian base metal miner Zinifex have unanimously approved the transfer of the companyÆs smelting assets to a new Belgium-incorporated company, and have agreed that ZinifexÆs shares in the spin-off be sold through an IPO. The listing on EuropeÆs Euronext exchange has been flagged for as early as October this year, depending on market conditions.
The spin-off, called Nyrstar, is expected to start operations in September, and while no indication has been given to the size of the IPO, NyrstarÆs assets are estimated to be worth about $4 billion.
The formation of Nystar was mooted back in December last year when Zinifex signed a deal with BelgiumÆs Umicore to combine their zinc...
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