Oxiana Limited - proposed merger with Zinifex Limited

Acquirer(s)

  • Oxiana Limited

Target(s)

  • Zinifex Limited

Summary

Oxiana Limited's proposed acquisition of Zinifex Limited

Market definition

Relevant markets for the purpose of this competition assessment were the Australian markets for the production and supply of:
- zinc concentrate;
- copper concentrate;
- lead concentrate; and
- gold and silver dore.

Competition analysis

On 30 April 2008, the ACCC formed the view that the proposed acquisition was unlikely to substantially lessen competition in the relevant markets. Factors informing this view included:
- the global nature of the pricing mechanisms coupled with fragmented concentration in the relevant markets; and
- the robust alternative domestic supply by companies such as Kagara, Xstrata and BHP Billiton.

Timeline

DateEvent
01/04/2008ACCC commences review under the Merger Review Process Guidelines.
15/04/2008Closing date for submissions from interested parties.
30/04/2008ACCC announced it would not oppose the proposed acquisition.