Nyrstar Bids for Breakwater, Sending Shares to 3-Year High

Bloomberg reports that Nyrstar (EBR:NYR) plans to make a C$619 million ($630 million) bid for Breakwater Resources Ltd. (TSX:BWR).

The market news is quoted as saying:

The acquisition will add four zinc poly-metallic mines, according to the statement. After ramping up by the end of 2012, the assets will boost Nyrstar’s annual mine output to about 475,000 metric tons of zinc in concentrate, 28,000 tons of lead in concentrate and 15,000 tons of copper in concentrate, as well as increasing production of silver and gold, the company said.

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