Chinese mining company Jiangxi targeting First Quantum for potential takeover bid, sources say – by Andrew Willis and Niall McGee (Globe and Mail – September 21, 2019)
September 21, 2019 in Asia Mining, Canada Mining, Canadian Media Resource Articles
State-controlled mining company Jiangxi Copper Corp. Ltd. is stalking Vancouver-based First Quantum Minerals Ltd., owner of the largest copper mine in Africa, an approach driven by the Chinese government’s drive to lock up supplies of natural resources in the continent.
First Quantum recently hired investment bankers and lawyers to deal with a potential takeover bid from Jiangxi, China’s largest copper producer, according to financial industry sources who asked not to be named because they are not authorized to speak for the company. These sources said Jiangxi has not made a formal offer, and may decide to abandon the chase.