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Zijin to raise US$1.2B to pay for Nevsun acquisition

China’s largest gold producer Zijin Mining (HK:2899) said Wednesday it would issue eight billion renminbi (US$1.16 billion) in shares at RMB0.10 to help pay for the US$1.85 billion friendly acquisition of Canadian base metals producer Nevsun Resources (TSX:NSU).

Zijin to raise US$1.2B to pay for Nevsun acquisition Zijin to raise US$1.2B to pay for Nevsun acquisition Zijin to raise US$1.2B to pay for Nevsun acquisition Zijin to raise US$1.2B to pay for Nevsun acquisition Zijin to raise US$1.2B to pay for Nevsun acquisition

Zijin says it plans to get the Timok Upper Zone into production as soon as possible

Zijin announced last Friday it had accepted 89.37% of the total outstanding Nevsun shares tendered under the takeover offer and will pay $1.67 billion for the tendered shares.