PEOPLE’S REPUBLIC OF CHINA — China’s No.1 gold producer Zijin Mining plans to issue 8 billion yuan (about $1.2 billion) worth of shares in Shanghai to finance the acquisition of Canada’s Nevsun Resources.
Zijin Mining aims to sell up to 3.4 billion A shares to investors in China, in a plan which is subject to shareholder and regulatory approval.
The offer has now been extended until Jan. 7 to allow the remaining shareholders to tender their shares.
Last summer, it spent $1.26B for a 63% in Serbia’s largest copper mining and smelting complex RTB Bor.
It also gained access to Serbian asset — Timok copper and gold project.
It also secured ownership of the Vancouver-based miner’s flagship operation, the Bisha copper-zinc mine in Eritrea.