Minmetals plans new acquisition

State-owned China Minmetals Nonferrous Metals is bidding to acquire Canada-based mining company Noranda, according to a Reuters report. Other bidders for Noranda include Brazil-based Companhia Vale do Rio Doce (CVRD) and a third bidder, possibly Switzerland-based XStrata Plc. A China Minmetals official would not confirm the company planned the acquisition. Minmetals bought a 51% share of US-based Sherwin Alumina in April and said it planned other overseas acquisitions to relieve aluminum shortages in China.