Metallica puts Cape Flattery development works on hold amid takeover

Takeover target Metallica Minerals has suspended the majority of the planned project development works at its Cape Flattery silica project, in Queensland, citing the unsolicited, offmarket takeover offer by Diatreme Resources. The company said that it had engaged with the Office of the Coordinator-General on the draft terms of reference (ToR) for the environmental-impact statement (EIS), which would be released for public comment in the near future.