The largest freshwater valley mining enterprises to the sidelines decision to overseas acquisition in jinchuan is expected to again on the next city, will be higher than rivals nearly 22% of the $1.32 billion acquisition of realization.
 
Yesterday, CVRD issued a statement that said, the company decided to give up on South Africa Metorex mining company's bid, the reason is jinchuan group proposed to the latter a higher offer.
 
April 8, Metorex and vale do Rio doce had signed a share purchase agreement, to 7.35 per share offer purchase the latter rand, however, this deal is jinchuan group "reach", jinchuan group proposed last week to 8.90 per share offer for the rand, than CVRD offer than the nearly 22%.
 
Eventually, CVRD select exit bids, it also means jinchuan for Metorex takeover bid will be the actual execution plan.
 
Metorex is a listed mining companies in South Africa, in the democratic republic of the Congo and Zambia have copper and cobalt ore resources, in Zambia Chibuluma have underground copper mine, according to the company in April this year, figures released by the its copper reserves of about 4.74 million tons. At present, Metorex its Zambia resources is not much see quality copper assets, but its in Congo mineral deposits need buyers additional investment can be put into production, and so is uncertain.
 
Metorex says, it has not approved any offer relevant agreement with jinchuan, but the two companies in a joint statement, the company has won the support of shareholders, accounting for 8% of the Metorex voting rights.




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