Copper mining company Equinox Minerals Ltd (ASX: EQN) announced today that it has a relevant interest in Citadel Resource Group Ltd of 56 per cent and that its recommended takeover offer for Australia-based metals and gold mining company Citadel has been declared free of all defeating conditions.

The company, which operates a copper mine in Zambia, said earlier this month it would declare the offer unconditional if its interest exceeded 50 per cent before December 16.

Equinox said in a statement on Friday that it has given written notice to Computershare Investor Services Pty Ltd, the acceptance facility operator, confirming that Equinox has declared the offer free from all defeating conditions.

Citadel shareholders who have already submitted valid acceptances will receive their consideration under the offer within seven business days. Those who accept the offer between now and the end of the offer period will receive their consideration within seven business days of their acceptance being received.

The offer remains open for acceptance by Citadel shareholders until December 30, 2010.

In October, Equinox proposed to acquire Citadel for A$1.25 billion. The offer comprises one Equinox share for every 14.3 Citadel shares, plus A$0.105 per Citadel share in cash.

Equinox said that the board of Citadel has recommended its shareholders to accept the offer, in the absence of a superior proposal.