WMC Resources

WMC Resources Limited was an Australian diversified mining and fertilizer company formerly listed on the Australian Stock Exchange. WMC was an acronym for Western Mining Corporation. It was delisted on 29 June 2005 following a successful takeover by BHP Billiton. It had three main businesses:

• A nickel mining and processing business in Western Australia.
• A copper and uranium mine at Olympic Dam in South Australia. , this mine contains 33% of the world's known uranium reserves .
• A fertilizer production business in Queensland, which became known as Southern Cross Fertilisers following the BHP Billiton takeover; as well as Hi Fert, a blending and distribution network supporting Australia's eastern states. BHP Billiton sold Southern Cross Fertilisers to Incitec Pivot Limited in May 2006 and Hi Fert to a joint venture of Elders and AWB on 5 December 2005.
• , the company was investigating a new titanium dioxide mineral sands mine (Corridor Sands Limitada) near Chibuto in Mozambique.

History

The company traced its roots back to 1933 as a gold mining company in Kalgoorlie, Western Australia. The company's final corporate structure before takeover was formed in 2003 by a demerger that split off the aluminium operations to form Alumina Limited, separate from what was to be known as WMC Resources (with a separate ASX code of WMR).

In 2003, the company made a profit of 245 million Australian dollars, on assets of approximately 4000 million AUD.

The last......
Read More