Vale May Lift Metorex Bid After Jinchuan Offer

Vale SA, the world’s largest iron-ore producer, may raise its bid for Metorex Ltd. after Jinchuan Group Co. offered $1.36 billion to acquire the African copper company, analysts said.

Jinchuan, the biggest Chinese nickel producer, offered 8.90 rand ($1.31) yesterday for each share of Johannesburg-based Metorex, 21 percent more than Vale’s 7.35-rand bid on April 8. Vale, based in Rio de Janeiro, has until July 15 to match or beat Jinchuan’s offer, Metorex said.