{"id":7674,"date":"2025-12-29T05:42:14","date_gmt":"2025-12-29T05:42:14","guid":{"rendered":"https:\/\/microvibenews.com\/?p=7674"},"modified":"2025-12-29T05:42:14","modified_gmt":"2025-12-29T05:42:14","slug":"chinas-jiangxi-to-buy-copper-miner-solgold-in-1bn-deal","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=7674","title":{"rendered":"China\u2019s Jiangxi to buy copper miner SolGold in $1bn deal"},"content":{"rendered":"<p><\/p>\n<div id=\"textFreeArticle\">\n<p>China\u2019s Jiangxi Copper Co has agreed to buy copper miner SolGold Plc in a deal that values the company at little over $1 billion.<\/p>\n<p>After two previous bids were rejected, SolGold accepted the Chinese firm\u2019s latest offer of 28 pence a share in cash for the stock it doesn\u2019t already own, the Australian miner said in a statement last week.<\/p>\n<p>Read: Copper rises to record on bullish Citi outlook, supply concerns<\/p>\n<div class=\"visible-sm-block visible-xs-block m1010\">\n<div class=\"ad-container-wrapper\">\n<p>ADVERTISEMENT<\/p>\n<p>CONTINUE READING BELOW<\/p>\n<\/div>\n<\/div>\n<p>That values the company at as much as \u00a3867 million ($1.17 billion), including shares that may yet be issued, SolGold said. The offer represents a 43% premium to SolGold\u2019s share price before the first bid last month, it added.<\/p>\n<blockquote>\n<p>The deal comes amid a surge in interest in copper mines with the metal trading at a record high.<\/p>\n<\/blockquote>\n<p>Many in the industry are forecasting a shortage of the metal as the global economy electrifies, leading to a series of approaches among big miners, including a failed bid by BHP for Anglo American Plc.<\/p>\n<p>Read:<br \/>The 3 days when BHP tried to crash a copper mining mega deal<br \/>Anglo warns 2026 copper output likely to be lower than expected<br \/>Copper climbs on easing trade tensions, China\u2019s economic outlook<\/p>\n<p>SolGold was once seen as a prime takeover target for major Western miners, including BHP Group and Newmont Corp, which are some of its biggest shareholders. Yet a series of disputes around how the planned Cascabel mine in Ecuador would be funded and the project\u2019s downsizing saw that interest cool.<\/p>\n<p>Jiangxi is already the largest shareholder, with little more than 12%. BHP and Newmont \u2014 which each own more than 10% of SolGold \u2014 have said they support the current bid, according to SolGold. Other investors, such as Maxit Capital LP, are also backing the offer, it added.<\/p>\n<p>As well as the Cascabel project, SolGold holds large swathes of exploration permits in Ecuador.<\/p>\n<p>\u00a9\u00a02025\u00a0Bloomberg<\/p>\n<p><em>Follow Moneyweb\u2019s in-depth finance and business news on WhatsApp here.<\/em><\/p>\n<\/p><\/div>\n<p><script data-cfasync=\"false\">\n            !function(f,b,e,v,n,t,s)\n            {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n                n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n                if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n                n.queue=[];t=b.createElement(e);t.async=!0;\n                t.src=v;s=b.getElementsByTagName(e)[0];\n                s.parentNode.insertBefore(t,s)}(window, document,'script',\n                'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n            fbq('init', '779812924991616');\n            fbq('track', 'PageView');\n        <\/script>#Chinas #Jiangxi #buy #copper #miner #SolGold #1bn #deal<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China\u2019s Jiangxi Copper Co has &hellip; <\/p>\n","protected":false},"author":1,"featured_media":7675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[1149,152,1950,312,110,6347,6348,6349],"_links":{"self":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/7674"}],"collection":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7674"}],"version-history":[{"count":0,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/7674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/media\/7675"}],"wp:attachment":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}