subsidiary, with a transaction value of about C$1.839 billion, or 9.530 billion yuan, or $1.39 billion.
Nevsun, a copper, zinc and gold-based mineral exploration and development company, owns 60% of Eritrea's Bisha copper-zinc mine in Africa and two flagship projects in Serbia, Timok copper-gold mine, with 27 exploration rights in Serbia, Eritrea and Macedonia.
Sponsor
According to the announcement, Zijin Mining's wholly foreign-owned subsidiary, Jinshan (Hong Kong) International Mining Co., Ltd., intends to issue a cash offer for all 303 million shares issued by Nevsun and other Nevsun shares issued before the end of the offer at a price of C$6 a share. Zijin Mining said the source of the acquisition funds was raised by the company itself.
The transaction price was 21% premium to Nevsun's closing price on the previous day of trading and 57% premium to Nevsun's closing price of C$3.82 a share before the malicious offer of C$4.75 a share made by Lundin Mining Corporation to Nevsun on July 26.

<>Zijin Mining intends to offer Canadian mineral company Nevsun

 

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