MINR Ft Minr

RNS No 44b
MINORCO
16th June 1998

MINORCO SELLS CARBON BLACK BUSINESS TO PHELPS DODGE


Minorco's 73%-held Brazilian subsidiary, Copebras S.A. is pleased to announce
that it has agreed to transfer ownership of its carbon black business to
Columbian Chemicals Company, a wholly owned subsidiary of international mining
and manufacturing group, Phelps Dodge Corporation, for a total consideration
of US$220 million.  The transaction is expected to be completed within three
months when the required permits have been obtained.

This disposal represents another step in Minorco's strategy to concentrate on
its core businesses.

The Copebras facilities, located at Cubatao in Sao Paulo State, Brazil,
consist of an integrated industrial plant comprising both the carbon black
business and a phosphates business.  Copebras also has a phosphate mine
located at Catalao in Goias State.  Copebras will continue to operate the
phosphates business including a proposed joint venture with Albright & Wilson
which was the subject of a Letter of Intent signed in October 1997.

Minorco is an international natural resources group with operating interests
in gold, base metals, industrial minerals, paper and packaging and
agribusiness.

Luxembourg - June 16, 1998

Contact:

Nick von Schirnding                            Carina Corbett
VP Investor and Corporate Affairs              Corporate Affairs Manager
+44 171 404 2060                               +44 171 404 2060

END

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