OZ Minerals denies Glencore bid

Group's shares lift as it brushes off talk of Glencore Xstrata takeover offer.

OZ Minerals (OZL) remained higher at noon, after the group denied speculation over the weekend that global mining giant Glencore Xstrata is considering a takeover bid.

At 1230 AEST, OZ Minerals shares were 2.95% higher at $4.54, against a benchmark index decline of 1.23%.

In a statement to the Australian Securities Exchange, OZ Minerals said it had not received a substantial shareholder notice from Glencore nor had it been been approached by Glencore in regard to any proposal.