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Chinese group invests in Canadian copper-gold miner
Foreign acquisition China’s Zijin Mining has signed an agreement to take over Canada’s Nevsun Resources under an offer valued at some C$1.86 billion (US$1.41 billion).
"This premium transaction is an excellent outcome for our sharehold-ers, and the result of a rigorous and competitive global process to generate maximum value for Nevsun's outstanding assets," Ian Pearce, the chair of Nevsun's Board of Directors, said in a statement.
Nevsun Resources says its activities include production from the Bisha copper-zinc mine in Eritrea, and the high-grade world class Timok copper-gold project in Serbia. Nevsun also has properties in Eritrea, Serbia and Macedonia.