Sometime during the next three months officials of the London-based RTZ Corp. Plc. will be in Utah to examine the Kennecott Utah Copper operation and nearby gold mine in Barney's Canyon.
That's the word from John Skinner, a press officer for the multinational company that has agreed to purchase BP Minerals, - the mining portion, including the Kennecott operation, from British Petroleum Co.Contacted in London, Skinner said part the sale agreement contains a provision that allows RTZ officials to examine each of the properties the company is purchasing. He couldn't say exactly when the Utah copper and gold operations would be visited.
Because Kennecott workers are a little uneasy about the sale, Skinner was asked if any major changes will be made by RTZ. He said, "It is far to early to speculate if any major changes will be made at the mines."
"We are entering a period of due diligence when we will be investigating all of the properties throughout the world and it's premature to guess what we will find. We have access to all of the mining operations, the financial records, staffing and methods of operation in the next three months," he said.
Skinner said if the deal goes through there will be an eventual name change for the company because RTZ doesn't want to trade under the current name.
Meanwhile, union officials representing workers at Kennecott say the pending sale of the parent company's mining interests shouldn't effect employees at the Magna plant.
Officials of British Petroleum Co. said Tuesday they have agreed to sell its huge mineral interests to the international mining group RTZ Corp. Plc. for $4.4 billion.
British Petroleum acquired the Utah copper operation through its former subsidiary, Standard Oil Co. of Ohio. Kennecott workers were idled beginning in August 1985 but started returning to work in December 1986.