Jinchuan Said to Be Considering Bid For Vale’s $1.1 Billion Target Metorex

Bloomberg reports that Jinchuan Group Co. may outbid Vale SA (NYSE:VALE) for Metorex Ltd. (PINK:MRXLY).

The market news is quoted as saying,

Nothing has been decided, one person said, asking not to be identified as it’s too early in the process. Johannesburg-based Metorex, which said June 17 it received an unsolicited approach from another party, declined to comment. Wang Wanshou, an official at Jinchuan, said he had no information regarding the deal.

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