Minmetals Resources Limited (HKG:1208) announced that the offeror has now extended the expiry time of the takeover offer to acquire all of the shares in Anvil Mining Limited, from 8:00 pm (Toronto time) on 11 January 2012 to 8:00 p.m. (Toronto time) on 16 February 2012, unless the offer is further extended or withdrawn.

Moreover, since the initial announcement of the takeover bid on September 29, 2011, Anvil and Minmetals have been consulting with various stakeholders in the Democratic Republic of Congo (DRC).

Minmetals said that there will be a requirement to give La Générale des Carrières et des Mines Sarl (Gécamines) a right of pre-emption in connection with the Mutoshi Project, which MMR and Anvil are fully aware of and intend to comply with. Minmetals and Anvil have previously agreed that Anvil's 70% interest in the Mutoshi Project has a value of US$52.5 million. Discussions with each of Gécamines and Mining Company Katanga SPRL (MCK) by Anvil and its advisors and with Minmetals are ongoing. There can be no assurance that the parties will reach agreement on revised commercial arrangements with Gécamines.