Nickel producer Jinchuan Group held off a rival bid by Mercator Minerals to acquire Canadian mining firm Tyler Resources for US$214 million, the Wall Street Journal reported. The purchase, which is subject to shareholder approval, will give Jinchuan access to Tyler’s assets, including Bahuerachi, Mexico’s fourth-largest copper-zinc mine. Jinchuan’s successful bid comes after BHP Billiton’s proposal to acquire Rio Tinto, which Chinese officials fear would give iron ore suppliers too much pricing power.
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