Australia-based resource giant Western Mining Corp. Holdings (NYSE) was listed for trading recently on the New York Stock Exchange.
Ordinary shares of Western Mining are listed as American Depositary Receipts on the basis of one ADR share for four ordinary shares. The shares are also listed on stock exchanges in all Australian states, in Basel, Frankfurt, Geneva, London, Paris and Zurich.
Western Mining is a diversified company with interests in nickel, gold, alumina, aluminum, copper, uranium, talc and oil and gas production.
The company reported sales of A$1,205 million, (US$911 million) and an after-tax operating profit of A$442 million (US$334 million) for the year ended June 30, 1989.
The Bank of New York is acting as the depository bank for the company’s sponsored ADR program launched in November. The Western Mining issue was trading recently at US$20 1/2-20 5/8.
Westminer Canada, a unit of Western Mining, is starting production this month at the Gays River lead-zinc project in Nova Scotia at an initial production rate of 10,000 tons of lead and 15,000 tons of zinc concentrate annually.
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