Zijin Mining acquires company that develops Cukaru Peki mine in Bor

The new owner of RTB Bor, Zijin Mining Group Co. has been successful in its offer to purchase all of Nevsun Company’s issued and outstanding common shares for 6.00 Canadian dollars per share. Nevsun is currently carrying out the Cukaru Peki project in Bor, a world-class copper site of great importance and potential for Serbia.

The number of Nevsun common shares tendered as at the deadline of December 28, 2018, totals an aggregate of 276,820,575, representing approximately 89.37% of the total issued and outstanding Nevsun Shares on a fully diluted basis. All of the conditions to the Offer, as amended by the notice of variation dated December 5, 2018, have been satisfied or waived. Zijin, through its subsidiary, has taken up all of the Deposited Shares and will pay the depositary the aggregate consideration of 1,660,923,450 dollars for the Deposited Shares within three business days.

“We are very pleased to have acquired Nevsun and will continue with the company’s strong focus on safe, efficient and sustainable mining practices. Zijin has significant expertise in mining construction, operations and management, and strong innovation capabilities. At the Timok Project in Serbia we intend to rapidly develop the Upper Zone and bring it into production as soon as possible – said Chen Jinghe, Chairman of Zijin.

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“On behalf of Nevsun’s Board of Directors, I would like to thank our stakeholders, partners and our management team for achieving this excellent outcome for Nevsun and its stakeholders – said Peter Kukielski, CEO of Nevsun. 

In addition, pursuant to applicable Canadian securities laws, Zijin has extended the period shareholders of Nevsun have to tender their shares under the Offer by 10 days to January 7th, 2019. Shareholders who tender their Nevsun Shares in the extended period will receive the same 6.00 Canadian dollars per share which will be paid within three business days of the Expiry Time. 

On 18th December, Zijin officially took over the Mining and Smelting Basin Bor (RTB Bor) for which it paid USD 350 million.

(Seebiz, 29.12.2018)

http://rs.seebiz.eu/zijin-kupio-kompaniju-koja-razvija-projekat-cukaru-peki-u-boru/ar-187079/

 

This post is also available in: Italiano

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