- Write by:
-
Wednesday, October 28, 2020 - 12:50:33 PM
-
280 Visit
-
Print
Mining News Pro - Kaz Minerals said on Wednesday it has agreed to be acquired by a consortium led by its chairperson Oleg Novachuk, in an all-cash deal that values the London-listed miner at £3-billion ($3.91-billion).
Nova Resources, a company owned by Novachuk and Kaz director Vladimir Kim, will pay 640p per Kaz share, the miner said.
Kaz shares scaled their highest in one and a half years in early trade. They were up 10% at 629p by 08:11 GMT.
Novachuk and Kim already own stakes of 7.8% and 31.6% in Kaz, respectively, according to Refinitiv data.
The consortium believes Kaz`s long term interests are best served as a private company, the miner said.
Kaz Minerals, the largest copper producer in Kazakhstan, said an independent committee considered the terms of the deal to be "fair and reasonable".
Like miners across the globe, Kaz earlier this year cut its 2020 capital spend and warned of production delays as it dealt with disruptions due to the coronavirus crisis.
Short Link:
https://www.miningnews.ir/En/News/606720
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with ...
Canadian miner First Quantum Minerals (TSX: FM) believes it will be able to take the already mined 121,000 tonnes of ...
Canadian miner First Quantum Minerals said on Tuesday that it has cut its debt by $1.14 billion in the first quarter.
Canada and its Five Eyes Alliance partners are working on put forward a response to tackle the price manipulation of ...
Chile is expected to produce a record 5.8 million metric tons of copper in 2025, the state-run Chilean Copper Commission ...
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
No comments have been posted yet ...