China Lithium Market Dynamics & Lithium Procurement Study

China Lithium Market Dynamics and Lithium Procurement Study

Battery Recycling Technology Understanding

Solid State Battery Market

   China Scrap Steel Quality Analysis 

China Scrap Steel Cost Curve

Home

Metal News

Jinchuan Agrees to Purchase Canada's Continental Minerals for $419 Million

CLNB 2024 9TH CHINA NEW ENERGY EXPO

Indonesia Nickel & Cobalt & EV Industry Conference 2024

ASEAN Tin Industry Conference 2024

ASEAN Coal Industry Conference 2024

ASEAN Aluminium Industry Conference 2024

2024 ASEAN Automotive Supply Chain

2024 Global Renewable Metal Industry Chain Summit

2nd Li-ion Battery Europe 2024

NET ZERO EUROPE - Solar & Energy Storage Summit

Zinc Smelters in Guangxi Province Cut Production to Meet Energy Targets 

Sep 18 (Bloomberg)--
Jinchuan Group Ltd., a closely held Chinese nickel and copper producer, agreed to acquire Continental Minerals Corp. for C$432 million ($419 million) to gain a gold and copper project in Tibet.
Jinchuan, which controls 12 percent of Vancouver-based Continental, will pay C$2.60 for each of the 166 million shares it doesn&rsquo;t already own, Continental said today in a statement. The proposed deal values Continental 13 percent more than its last closing price in Toronto. Continental also said it plans to pay investors as much as 10 cents a share in cash before the takeover is completed.
Chinese companies have announced or completed 17 mining acquisitions of North American companies during the past year with a total deal volume of $2.77 billion and an average premium of 31 percent, according to data compiled by Bloomberg. In April, Jinchuan said it would acquire Crowflight Minerals Inc., a Toronto-based nickel producer, for $140 million.
Continental is developing the Xietongmen deposit in Tibet, which may produce 116 million pounds of copper and 190,000 ounces of gold during its 14-year life, according to Continental&rsquo;s website. 
Continental climbed 28 cents, or 12 percent, to C$2.58 at 3:59 p.m. in TSX Venture Exchange trading. The shares have risen 21 percent this year.
BMO Capital Markets served as a financial adviser to Continental, and Sino Resources Capital Pty Ltd. advised Jinchuan.
 
&nbsp;

Xstrata's Peru Copper Mine Normal After Nearby Disturbance

Jinchuan Agrees to Purchase Canada's Continental Minerals for $419 Million | Shanghai Non ferrous Metals

Jinchuan Agrees to Purchase Canada's Continental Minerals for $419 Million

SMM Events & Webinars

NET ZERO EUROPE - Solar & Energy Storage Summit

2nd Li-ion Battery Europe 2024

2024 Global Renewable Metal Industry Chain Summit