Deals: Minara's Cash Back, Nuplex Says Not Talking To Orica

  Shares in nickel miner Minara Resources jumped 7.5% yesterday after it said it would return & #160; & #36;111 million of capital to shareholders because of & #160;its strong financial position.The shares rose 5c to 71c at the close yesterday.The Perth-based company says it will ask its investors at an extraordinary general meeting on August 17 to approve a return of capital to shareholders of 9.5 cents per share. & quot;Minara has been able to undertake a capital management program due to its strong financial position, & quot; chief executive Peter Johnston said in a statement yesterday.Mr Johnston said the cashed-up company had surplus cash from a & #36;210 million rights issue in December 2008. & quot;A number of factors, including increases in the prices of nickel and cobalt and improvement in the outlook in the global economy, have seen Minara generate positive operating cashflows, building its cash reserves to & #36;363 million as at 30 June, & quot; he said.The company said that no part of the 9.5 cents per share returned to investors will be deemed a taxable dividend under a class ruling by the Australian Tax Office.Swiss commodities giant, Glencore International will get 70% of the return. It controls Xstrata as well.  

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