Murchison pushes ahead with Neves Corvo purchase

AUSTRALIAN tin miner Murchison United is pushing ahead with its purchase of Rio Tinto's 49% interest in Western Europe's biggest copper mine, even as the Portuguese government continues to delay the sale of part of its stake.

Murchison agreed in October to pay US$81 million for Rio's stake in Somincor, operator of the Neves Corvo mine, conditional on the government's sale of 17% of Somincor.

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