Minmetals gets nod for miners' purchase

China Minmetals Corporation, the country's largest metals trader, received permission from the State-owned Assets Supervision and Administration Commission (SASAC) yesterday to acquire Changsha Research Institute of Mining & Metallurgy (CRIMM) and Luzhong Metallurgy & Mining Group.

The two State-owned enterprises would now be fully owned subsidiaries of Minmetals.

A spokesman for Minmetals said, however, that the companies were still in talks on the details of the transactions.