Minmetalskeen onAnglo'szinc assets

Several domestic metal firms including China Minmetals Corp are in the fray to acquire Anglo American's divested zinc assets, according to sources familiar with the matter.

Minmetals, Shenzhen-based Zhongjin Lingnan Nonfemet Co Ltd and Canadian mining company Teck Resources, in which Chinese sovereign wealth fund China Investment Corp owns a 17-percent stake, are in talks for the zinc assets to help secure supplies of resources, the source said.

"After Minmetals' takeover of Oz Minerals, its zinc business has started to grow. Seeking other zinc projects to meet its growing demand is in line with the company's business strategy," the source said. Zinc is widely used in die-casting and battery manufacturing.