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Pasminco juggles stock offering, labor unrest.

Publication: American Metal Market
Publication Date: 02-FEB-04
Format: Online
Delivery: Immediate Online Access
Full Article Title: Pasminco juggles stock offering, labor unrest. (creation of Zinifex Ltd.)(Nonferrous)

Article Excerpt
SYDNEY, Australia -- The administrators of bankrupt Australian miner and smelter Pasminco Ltd., Melbourne, hope to float its assets (issue a stock offering) as a new company named Zinifex Ltd. to raise upward of Australian $1 billion ($770 million) for its creditors.

News of the new entity's creation emerged in Sydney Friday, with the Zinifex float slated for late February or early March.

Labor unrest at the company's Tasmanian operations may...

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