OZ Minerals rejects recapitalisation proposal

SYDNEY, June 9 (Reuters) - Debt-laden Australia miner OZ Minerals Ltd (OZL.AX) has rejected a $1.2 billion recapitalisation proposal from investment advisory firm RFC Group and Royal Bank of Canada (RY.TO), OZ Minerals said on Tuesday.

OZ Minerals, which needs to raise money to repay A$1.1 billion in debts, has agreed to sell most of its assets to China's Minmetals for $1.2 billion. OZ Minerals shareholders are due to vote on Minmetals deal on Thursday. ($1=A$1.25) (Reporting by Denny Thomas;)