Minmetals Resources Ltd. (MMR) initiated a friendly takeover offer with Anvil Mining C$8/Anvil share in cash, or C$1.33 billion. The offer represents a 30% premium over the stock price at the time of the announcement.

“MMR aim is to build an international mining group based on a unique operating model that brings together the skills and experience of an international management team with the long term commitment of a major Chinese corporation as its major shareholder,” said Andrew Michelmore, CEO and executive director of MMR. “We believe this acquisition, which will expand MMR’s global footprint and add a pure copper play to our diversified portfolio, will propel us further along that path.” MMR will finance the deal through a combination of an acquisition finance facility from its majority shareholder, China Minmetals Nonferrous Co., Ltd., and its own cash reserves.

MMR is a base metals company. With mining operations located in Australia and Asia and a large portfolio of exploration and development projects in Australia, Asia and North America it is one of the world’s largest producers of zinc as well as a substantial producer of copper, lead, gold and silver. Its operations include the Century zinc mine in Queensland, Sepon copper and gold operations in Laos, Golden Grove underground base and precious metals mine in Western Australia, and the polymetallic Rosebery mine in Tasmania.

Anvil Mining is an African focused base metals mining and exploration group. Its principal activities include mineral exploration, development and mining. The Anvil group’s copper production for the six months ended June 30, 2011, totaled 9,315 metric tons. Its interests comprise a 95% equity interest in the Kinsevere project in the Katanga province of the DRC and a 70% equity interest in the Mutoshi project in the Katanga province of the DRC.

Anvil also holds 14.5% of the issued and outstanding capital of Mawson West Ltd., which has a large interest in the Dikulushi mine in the DRC, and has interests in a number of exploration properties in the DRC.