The company has completed the Chinese State Administration of Foreign Exchange (SAFE) registration, a three-pronged process that took place over the past two months.

Nevsun said Tuesday the SAFE registration was the last Chinese regulatory condition which, together with Investment Canada Act approval received last month, rendered both regulatory conditions met.

According to Nevsun, which operates the Bisha copper-zinc-gold mine in Eritrea and is developing the sizeable Timok Upper and Lower Zone copper projects in Serbia, the transaction remains subject to customary closing conditions.

Nevsun's Timok assets have attracted some heavyweight investor attention this year.

The deal is not subject to financing conditions and no specific closing date has been set, but the companies have agreed to cooperate until all regulatory approvals are in place.

Nevsun's equity has doubled in the past 12 months to C$5.96 a share, which gives it a value of $1.8 billion.