Zijin Mining to acquire Nevsun in all-cash agreement worth $1.41 bln

Chinese gold and copper miner Zijin Mining is set to outbid competitor Lundin Mining to acquire Canada’s Nevsun Resources, in an agreement valued around C$6 ($4.56) per share and totaling C$1.86 billion ($1.41 billion), Nevsun said on Wednesday September 5.

The takeover bid, which is set to be announced before September 18, comes after multinational minerals company Lundin Mining publicly announced on May 7 its intention to acquire Nevsun for a price around C$4.75 per share, in a hostile takeover bid launched on July 26.

The Nevsun board of directors has since rejected...


Hassan Butt

September 05, 2018

16:38 GMT