Minara Resources Explained

Minara Resources Pty Ltd is a mining company in Western Australia, specializing in the mining of cobalt and nickel. It is wholly owned by the Swiss commodities trading firm, Glencore as of November 2011. Minara operates the Murrin Murrin Mine located in the north-east Goldfields region of Western Australia which is one of the top ten nickel mines in Australia.^[1]

Based in Perth, Minara Resources was founded in 1994 as the successor to Anaconda Nickel Ltd. which was founded by Fortescue Metals Group chief Andrew Forrest. In 2006, it had a market capitalization of approximately $1.3 billion. At the time of takeover, it was valued at a total of A$1.02 billion.^[2] Minara applied on October 14, 2011, to have its stock suspended from trading on the Australian Stock Exchange.^[3]

Key personnel

Prior to its full takeover by Glencore, its board of directors as of February 2010 were:

• Peter Coates – chairman
• Peter Johnston – CEO and managing director
• John Morrison – non-executive director
• Ivan Glasenberg – non-executive director
• Willy Strothotte – non-executive director
• Malcolm Macpherson – non-executive director
• Marc Ocskay – alternate non-executive director

Notes and References

1. News: Ferreira-Marques . Clara . 2011-09-19 . Minara tells investors to accept Glencore bid . en . Reuters . 2023-02-27.
2. News: Fickling . David . 2011-09-19 . Minara Resources backs takeover offer from Glencore . . dead . 2023-02-28 . https://web.archive.org/web/20110919101150/http://www.theaustralian.com.au/business/mergers-acquisitions/minara-resources-backs-takeover-offer-from-glencore/story-fn91vdzj-1226140624368 . 2011-09-19.
3. Web site: 2011-10-14 . Glencore mops up Minara Resources takeover . dead . https://archive.today/20130627215043/http://www.perthnow.com.au/business/glencore-mops-up-minara-resources-takeover/story-e6frg2s3-1226166957217 . 2013-06-27 . 2023-02-28 . PerthNow.