MINMETALS RESOURCES Ltd., a Hong Kong-listed unit of state-owned China Minmetals Group, announced that it will buy Congo-focused copper miner Anvil Mining Ltd. for C$1.33 billion in cash, despite the risk of the location and the recent decline in commodity prices. Minmetals Resources said in a statement that shareholders owning 40.1 percent of Toronto- and Australia-listed Anvil Mining's stock support the C$8-a-share offer. These include trading house Trafigura Beheer BV, which is Anvil's biggest investor.
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