4 November 2014

Zijin Mining to Buy 51% of DR Congo Copper Miner for $77.9m

Purchase price includes 51% equity stake in Miniere de Musonoie Global, holders loan, project initial feel, co. says in H.K. exchange filing today.

* Target owns planned Kolwezi copper mine in DR Congo; * Target’s mine is still at feasibility study stage; * Co. unit Jin Cheng Mining to make purchase; * Seller is Zhejiang Huayou Cobalt. Source: Bloomberg