Adastra Minerals
Adastra Minerals Inc (formerly America Mineral Fields Inc),[1] was a London-based mining company[2][3][4] with notable operations in central Africa (Angola, Democratic Republic of Congo, and Zambia), particularly in copper, cobalt, and zinc exploration. Adastra's properties and concessions were acquired in 2006 by First Quantum Minerals for $245 million in cash and stock, outpacing a counter-offer by Mwana Africa plc. Founder Jean-Raymond Boulle and top UK insurer Prudential plc had owned 10% and 14% stakes in Adastra, respectively.
History
Adastra Minerals in 2004 contracted a "definitive feasibility study" on the DRC Kolwezi cobalt/copper tailings project to a joint venture of Murray & Roberts and GRD Minproc.[5] In 2005, the World Bank subsidiary The International Finance Corporation was considering taking a ten percent stake in a project owned by Adastra Minerals. Adastra had formerly been known as American Mineral Fields.[1]
Notable personnel
- Jean-Raymond Boulle, founder; owned 10% stake at time of acquisition by First Quantum.
- Former United States President George H.W. Bush was until 2006 named a member of the international advisory board.
References
- ↑ 1.0 1.1 "World Bank", Rosie Murray West, The Telegraph (May 9, 2005)
- ↑ "Adastra rejects First Quantum approach", Mining Journal (January 27, 2006)
- ↑ "First Quantum raises takeover bid for Adastra Minerals", CBC News (March 20, 2006)
- ↑ "Smaller stock to watch", The Times (May 2, 2006)
- ↑ "Contract awarded for Kolwezi feasibility study", Mining Weekly (August 20, 2004)
External links
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