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China's Jinchuan In Talks With Metorex On Potential Takeover -Report
Jul 1, 2011 15:49Source:SMM
SHANGHAI, Jun 30, 2011 (Dow Jones Commodities News via Comtex) -- China's Jinchuan Group is in preliminary talks with South Africa-based miner Metorex Ltd. (MTX.JO) on a potential takeover, the 21st Century Business Herald reported Friday.
Metorex's copper and cobalt assets fit with Jinchuan's expansion plans in the two sectors, the paper cited a Jinchuan official as saying.
Jinchuan is China's largest nickel and cobalt producer by output and third-largest copper producer by capacity. Brazilian mining giant Vale SA (VALE) in early April made an offer to buy Metorex for $1.13 billion.
China's Jinchuan
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