Jinchuan Group Mining News

China’s Jinchuan trumps Vale’s Metorex bid

Reuters Africa reported that the Jinchuan Group’s (FRA:GDZD) bid for Metorex (JNB:MEMTX) is higher than Vale’s (NYSE:VALE) offer. The market news is quoted as saying: Jinchuan, China’s dominant nickel producer, added almost 22 percent to Vale’s offer, making 8.90 rand per share for a cash bid at current exchange rates of around $1.32 billion.

China's Jinchuan silent on media reports regarding Lundin Mining bid

No word yet from China's Jinchuan Group as to whether the company is officially in the market for Canada's Lundin Mining. Canadian media reports claim a consortium headed by Jinchuan, which includes sovereign wealth fund China Investment Corp., was planning a takeover bid for the Canadian base metals miner.