Resource firm Jinchuan Group has made a US$150 million offer to purchase Canadian nickel producer Crowflight Minerals (CML.TO), Reuters reported. If the deal goes through, Jinchuan would gain control over Crowflight’s Bucko Lake nickel mine in the province of Manitoba, and any other Crowflight properties put into production. Crowflight owns mineral deposits in Manitoba and in the Sudbury basin in Ontario. Jinchuan’s offer of US$0.26 per share represents a 53% premium on Crowflight’s Monday closing price; the company’s shares rose 44% on Tuesday morning. Chinese firms have been eager to secure access to base metals and other resources overseas.
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