Nickel miner Minara Resources Ltd. (MRE.AU) Monday recommended an offer for the company from its main shareholder Glencore International PLC (GLEN.LN) valuing Minara at A$1.02 billion (US$1.05 billion).

Minara said in a statement that a report by KPMG found fair value for the company between 70 cents and 97 cents, compared to the 87 cents offered by Glencore.

Glencore already controls 73.4% of Minara shares and 40% of its key asset, the Murrin Murrin nickel mine, and the takeover is widely expected to go ahead.

-By David Fickling, Dow Jones Newswires; +61 2 8272 4689; david.fickling@dowjones.com

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