Chinese company Zijin Mining Group successful in takeover of Nevsun Resources

VANCOUVER — Nevsun Resources Ltd. says Chinese company Zijin Mining Group Co. Ltd. has been successful in its $1.86-billion friendly takeover offer for the company.

The companies say about 89.37 per cent of the total issued and outstanding Nevsun shares on a fully diluted basis were tendered to the offer of $6 per share in cash by the Dec. 28 deadline.

The offer has now been extended until Jan. 7 to allow the remaining shareholders to tender their shares.

In August, Nevsun rejected a bid by the Toronto-based Lundin Mining Corp.

Nevsun has a copper-gold project in Serbia and a 60 per cent stake in the copper-zinc Bisha Mine in Eritrea.

Shares in Nevsun closed at $5.95 on the Toronto Stock Exchange on Friday.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Alberta’s chief medical officer of health, Dr. Deena Hinshaw, says the provincec has ordered 1.96 million doses of the flu vaccine. “That is a record for the province and 20 per cent more than last year,” she said. (Chris Schwarz/Government of Alberta)
COVID-19: Central zone active cases up Monday

Alberta confirmed 1,440 COVID-19 cases from over the weekend and seven additional… Continue reading

“Our members have decided they just can’t do this anymore. We’ve protected this province and you’ve treated us like dirt, so enough is enough,” says AUPE vice-president Bonnie Gostola, whose members protested outside the Red Deer Regional Hospital Centre on Momday. (Photo by SUSAN ZIELINSKI/Advocate staff)
Updated: Hospital workers strike in Red Deer

Some surgeries and ambulatory care clinics postponed around the province

Alice Kolisnyk, deputy director of the Red Deer Food Bank, says the agency expects an increase in demand as the COVID-19 pandemic continues. Every new subscription to the Red Deer Advocate includes a $50 donation to the food bank. (Photo by BYRON HACKETT/Advocate Staff)
Support the food bank with a subscription to the Red Deer Advocate

The community’s most vulnerable members are always in need of a hand,… Continue reading

The Red Deer Regional Hospital Centre could be affected by cuts to Alberta Health Services announced by the government Tuesday. (Photo by BYRON HACKETT/Advocate Staff)
David Marsden: Yes, we know how to do laundry

Union leaders would have us believe there’s something special about their members:… Continue reading

The death of 19-year-old Jacob Michael Chitze of Edmonton has now been ruled a homicide following an ongoing RCMP investigation.
UPDATE: RCMP arrest youth for second degree murder of 19-year-old Jacob Chitze

Arrest made for the murder of Jacob Michael Chitze, 19.

Pumpkins for the 46th Annual WDACS Pumpkin Ball on display at Vision Credit Union Wetaskiwin. Shaela Dansereau/ Pipestone Flyer.
46th Annual Pumpkin Ball held virtually this year

This year the pumpkins were sold over a six-day online auction.

Email letters to editor@interior-news.com
Removing Molly Banister extension makes no sense

Re: “Removing road extension would be ‘terrible,’ says former city manager,” Oct.… Continue reading

jj
NDP is certain to tire of propping up Trudeau’s Liberals

To impose his will on the House of Commons, Prime Minister Justin… Continue reading

Mariah Bell of the United States competes during women’s freestyle program in the International Skating Union Grand Prix of Figure Skating Series Saturday, Oct. 24, 2020, in Las Vegas. (AP Photo/David Becker)
Canadian Keegan Messing earns bronze at Skate America in Vegas, Chen wins gold

Messing earns 266.42 points at Skate America in Las Vegas

Most Read