No word on OZ deal

The Foreign Investment Review Board (FIRB) is yet to make a decision on China's Minmetals' proposed takeover bid of OZ Minerals.

The Foreign Investment Review Board (FIRB) is yet to make a decision on China’s Minmetals’ proposed takeover bid of OZ Minerals.

Last week, the FIRB announced that it would delay its decision on deals involving both Rio Tinto and Fortescue Metals.

An announcement from the FIRB or Treasurer Wayne Swan was expected to come some time over the weekend, but no statement was made.

A spokesperson for Minmetals said the company expects a decision some time this month.

“It’s a matter at the discretion of the Treasurer and a process that we respect entirely,” the Minmetals’ spokesperson said.

OZ Minerals’ stakeholder relations manager Matthew Foran said the company is working within the same timeframe for a possible decision.

“We are hopeful for a decision by the Government by the end of the month,” he said.

FIRB extended Rio Tinto’s deal with Chinalco by 90 days, while the Forstescue/Valin deal was given 30 extra days for review.

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