Zijin Mining on Acquisition Spree; FVE Unchanged
No-moat-rated Zijin Mining announced in early September that it has proposed a CNY 9.5 billion cash takeover of Canada-listed miner, Nevsun Resources and it will also acquire 63% of RTB Bor Group for USD 350 million. We think the move is in line with management’s guidance, given the budgeted CNY 12 billion spending for investment, merger and acquisition in 2018. These transactions are still subject to regulatory approvals and we do not expect them to significantly change our view on Zijin, given...Zijin Mining Group Company Limited is a China-based company principally engaged in the exploration, mining, smelting and sales of gold and other metal minerals. The Company's main products include gold products, copper products, lead and zinc products, iron products, silver products, among others. Its gold products mainly include the mineral gold, standard gold bullions, gold ingots and gold concentrates, among others. The Company is also involved in the geographic survey businesses through its subsidiaries.
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