S.Africa, Zambia Approve Metorex-Jinchuan Deal

IB Times reported that Jinchuan Group’s bid for Metorex (JNB:MEMTX) has been approved by both South Africa and Zambia.

As quoted in the market news:

With approval from China still awaited, Metorex said on Tuesday that South Africa’s Competition Commission and Zambia’s Competition and Consumer Protection Commission have both backed the acquisition. Jinchuan’s 9.1 billion rand bid in July trumped an offer by Brazilian giant Vale.

Click here to read the full IB Times report.