DRC Minister backs Nzuri deal

8th May 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – The Minister of Mines for the Democratic Republic of Congo (DRC) has approved Chinese metals trader Chengtun Mining Group’s A$109.5-million cash offer for copper junior Nzuri Copper.

Chengtun Mining is offering Nzuri shareholders 37c a share for their holding in the ASX-listed company, which holds an 85% interest in the Kalongwe copper/cobalt project in the DRC.

Nzuri told shareholders this week that the Ministerial approval represented a key step towards the successful finalization of the agreement, which would likely be completed by July this year.

The transaction remained subject to a number of conditions, including approval from the Chinese authorities and shareholder and court approvals.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION