China's Zijin to buy Nevsun for $1.41bn after Lundin takeover rejected

News Markets Intelligence Careers Education Buyers Guide News Markets Buyer's Guide Advertise RSS Newsletter The Northern Miner MINING.COM Canadian Mining Journal Sign In Join Profile Sign out Copper Gold Lithium Nickel Commodities Iron Ore Rare Earth Coal Uranium Cobalt Diamond Zinc Platinum Palladium Silver Potash Suppliers Equipment TOP 50 USA Canada Australia Regions Africa China Latin America Europe Asia TNM Maps TNM Marco Polo China’s Zijin to buy Nevsun for $1.41bn after Lundin takeover rejected Cecilia Jamasmie | September 5, 2018 | 2:58 am Base Metals Markets Precious Metals Canada China Copper Gold Nevsun’s flagship copper-zinc Bisha mine in Eritrea. (Image: Bisha mine. Courtesy of Nevsun Resources.) Canada’s Nevsun Resources (TSX, NYSEMKT:NSU) has found a new suitor in China’s state-backed Zijin Mining, which has offered Cdn$1.86 billion ($1.41 billion) for the gold and copper miner. Zijin’s friendly takeover bid values each Nevsun share at Cdn$6, which will be paid in cash, representing a premium of about 21% to the Vancouver-based miner’s close in Toronto on Tuesday. Sign Up for the Copper Digest Sign Up Zijin’s friendly takeover bid values each Nevsun share at Cdn$6, which will be paid in cash, representing a premium of about 21% to the miner’s close in Toronto on Tuesday The deal, which beats an earlier hostile bid by Lundin Mining (TSX:LUN), is the latest move by Zijin to expand overseas. In recent years, the gold, copper and zinc miner has snatc...

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