China Minmetals' Noranda acquisition faces setback

Plans by China National Metals and Minerals Group to acquire Canadian metals producer Noranda may be jeopardized following Noranda's newly acquired 41% stake in a subsidiary that would necessitate China Minmetals to increase its investment outlay, which is believed to be beyond its means, state media reported. While negotiations are in progress over China's largest-ever foreign acquisition attempt, China Minmetals said other cooperation agreements may be struck.