Eurasian Natural Resources Corp. PLC Wednesday said it is in "advanced discussions" to pay 20 pence a share for Central African Mining and Exploration Corp. PLC.
However, ENRC cautioned that a deal hadn't yet been finalized: "Whilst ENRC is engaged in such discussions and is assessing the merits of a potential transaction, there can be no certainty that any such transaction will proceed," the company said in a statement.
London-listed ENRC produces ferrochrome, iron ore and aluminium at operations in Kazakhstan, while CAMEC's main operations are copper and cobalt production in Congo.
Source: Trading Markets
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