MNA Monterrico

RNS Number:2429D
Xiamen Zijin Tongguan Inv Dev Co Ld
04 September 2007


                      Placing of Approximately 10% shares
                            in the share capital of
                             Monterrico Metals plc
                                 ("Monterrico")
                                       by
                             Xiamen Zijin Tongguan
                        Investment Development Co., Ltd
                              ("Zijin Consortium")
                                       to
                              LS-Nikko Copper Inc.
                                  ("LS-Nikko")


Reference is also made to the offer document ("Offer Document") made by Zijin
Consortium on 5 March 2007. Terms defined in the Offer Document shall apply
herein unless otherwise stated.


It is stated in the Offer Document that in the event that the minimum Free Float
of not less than 30% has not been achieved through the Scale-Back Election as
described in the Offer Document, Zijin Consortium intends to place the relevant
number of securities to Independent Placees within a reasonable period of the
closing of the Offer so that a free float of not less than 30% is achieved.


Zijin Consortium is pleased to announce that Zijin Consortium entered into a
conditional placing and purchase agreement (the "Agreement") with LS-Nikko on 3
September 2007 for, among other things, the proposed sale by Zijin Consortium to
LS-Nikko of 2,630,606 ordinary shares of 10 pence, representing approximately
10% of the total issued share capital of Monterrico for a consideration of GBP
3.70 per share.


Completion of the Agreement is expected to occur on 21 September 2007 subject to
satisfaction of a condition precedent.

Before and after the acquisition by LS-Nikko, the voting rights of Zijin
Consortium and LS-Nikko will be as follows:-


                            Before Placing                               After Placing

              Total Voting           Percentage of        Total Voting           Percentage of
              Rights                 Total Voting         Rights                 Total Voting
                                     Rights                                      Rights


Zijin         23,649,509             89.9%                21,018,903             79.9%


LS-Nikko      -                      -                    2,630,606              10.0%


Zijin Consortium is informed that LS-Nikko is a Korean joint venture founded by
Korea's LS Cable and Japan Korea Joint Smelting (JKJS). LS-Nikko is the only
copper smelting company in Korea since in 1936 and is the second largest copper
smelting company in the world. LS-Nikko has Onsan smelter & refinery with an
annual capacity of 510 thousand tonnes of copper cathodes and Janghang refinery
has an annual capacity of 60 thousand tonnes. For detailed information please
see www.lsnikko.com/english/index.aspx.


For further information, please contact:


Xiamen Zijin Tongguan Investment

Development Co.,Ltd.                      Tel: + 020 7776 2900

Ms. Susan Li, Director


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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