Running discussion on SP, page-15905

In 2016, China Moly paid $2.65bn to acquire a 56% interest in the cobalt mine from US copper mining firm Freeport-McMoran, which offloaded its stake to cut down its $20bn debt.

21 January 2019, Mining firm China Molybdenum (China Moly) has agreed to acquire holding company BHR Newwood DRC Holdings for $1.14bn, a transaction which will allow it to raise its stake in the Tenke Fungurume copper and cobalt mine in the Democratic Republic of Congo (DRC).

Last month, Copper and cobalt explorer Nzuri Copper (ASX: NZC) has today advised shareholders to accept a $109.5 million takeover offer from Shanghai-listed company Chengtun Mining Group.

The offer is for an all-cash consideration of $0.37 per share, which represents a 42% premium to Nzuri’s last closing price and is 93% higher than the last 30 days’ volume weighted average price.