China’s Jinchuan Trumps Vale’s Metorex Bid

Reuters Africa reported that the Jinchuan Group’s (FRA:GDZD) bid for Metorex (JNB:MEMTX) is higher than Vale’s (NYSE:VALE) offer.

The market news is quoted as saying:

Jinchuan, China’s dominant nickel producer, added almost 22 percent to Vale’s offer, making 8.90 rand per share for a cash bid at current exchange rates of around $1.32 billion.

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