Toho Zinc Co., Ltd. (TSE:5707) is believed to be selling its Rasp mine in NSW with expectations of about $300 million. The mine in Broken Hill produces silver, zinc and lead. It was purchased by Charles Rasp in 1883.

It led to the formation of the Broken Hill Proprietary Company, known now as BHP. It is understood the Rasp mine generates about $30m of annual earnings before interest, tax, depreciation and amortisation. Sydney corporate advisory firm Key Pacific is working on the sale of the Rasp mine.

The sale comes amid a period when talks about future mergers and acquisitions continue in the metals and mining sector and as several new groups backed by high-profile mining identities are trawling the market for opportunities.