CAPITAL MARKETS

Murchison drops Neves Corvo plans

MURCHISON United has abandoned its attempt to buy Rio Tinto's stake in the giant Neves Corvo copper mine in Portugal after the government rejected its offer.

Greg Tubby

Murchison drops Neves Corvo plans

Murchison agreed in October last year to pay US$81 million for Rio's 49% stake in mine operator Somincor, subject to government approvals. However, state-owned mining company EDM, which owns the remaining...

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