Deals
Jinchuan Seeks to Use Metorex for Africa Metals Growth
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Jinchuan Group Ltd., the second-largest cobalt producer and fourth-largest nickel company by capacity, may use a planned $1.36 billion takeover of Metorex Ltd. as a platform to expand its African metals operations.
“Africa has been Jinchuan’s focus for overseas development and Metorex has a very good management team,” Vice President Zhang Sanlin said in a translated interview in Johannesburg today. “After this acquisition, Jinchuan would like to leverage Metorex to look at more opportunities in Africa as well.”