BEIJING, Jan. 3 (Xinhua) -- China’s major gold producer Zijin Mining Group Company Limited (601899.SH; 02899.HK) announced that it plans to issue no more than 3.4 billion A-shares to raise a maximum of 8 billion yuan, for purchasing 100 percent stakes of Nevsun Resources.
Nevsun Resources is a company focusing on exploration and development of mineral resources, which had been listed on Toronto Stock Exchange and New York Stock Exchange (NYSE).
Nevsun operates Bisha, an open pit zinc-copper mine in Eritrea and is developing the Timok copper-gold project in Serbia.
According to a company filing, Zijin Mining will increase resource reserve of copper, gold and zinc after the purchase, so as to improve the core competitiveness and international standing of the company. (Edited by Ma Xin, maxin11@xinhua.org)
A single purchase
