Gansu Jinchuan Group plans to spend more than 1.5 billion yuan to buy the Canadian mining enterprise Tyler

Jinchuan Group will also aggressively expand overseas mineral resources, the proposed 1.5 billion yuan to buy the country's Tyler resources to obtain Mexican copper and zinc ore resources, Jinchuan Group's bid than the opponent is nearly one times higher. Yesterday, the Vancouver listed company Canada Tyler Resources announced, agreed to accept the Jinchuan group of 1.6 Canadian dollars in cash purchase price, a total of 214 million Canadian dollars, equivalent to 1.546 billion yuan, the transaction, if approved by shareholders and regulatory bodies, can be implemented in March. Tyler Resources has signed a final support agreement, and the 1.60 Canadian dollar offer is more than one times higher than that of the Tyler Resources Company on October 18, 2007. The Mercator mining Company, which is headquartered in Vancouver, also issued a swap offer to Tyler resources to buy 1 Tyler shares in 0.113 shares, valuing the value of Tyler's resource company by $125 million. Tyler Resources said the Mercator mining company's offer to buy shares has seriously underestimated its market capitalisation. The Mercator mining company's offer expired the day before yesterday. In response to the Mercator mining company's hostile takeover, the company began to take positive steps to identify a range of value-added options for companies, said Tyler Resource executives.　 Recently, the company received part of the inquiry intention, finally Jinchuan Group's bid is most satisfactory. The resources of Tyler are rich in copper-zinc deposits, the main assets of which are wholly owned by the Mexican Bahuerachi Mining area, the largest untapped copper-zinc mine in the region, and the copper-porphyry deposits with world-class potential. The Jinchuan group said that Tyler resources would develop the Bahuerachi mine into Mexico's most famous mineral project and bring a lot of value to shareholders. Jinchuan Group will actively promote the development and production of Bahuerachi mine project. At present, Jinchuan is China's largest nickel producer and one of the nine largest copper companies in the country. In 2005, Jinchuan Group had signed a framework agreement with Baosteel Group and the Philippine Government to jointly develop a nickel mine in the Philippine island of Connaught, which involved a capital of $950 million, including a plant, a mine, etc. However, Jinchuan has not stopped the pace of foreign investment. According to the reporter understand, the Gansu provincial government has in principle adopted the capital increase and expansion of Jinchuan program, and agreed to introduce Jinchuan strategic investors, and timing listed. This also provides potential financial support for Jinchuan's overseas expansion. At present, China's copper resources are extremely scarce, more than 50% of the copper ore relies on imports, some enterprises or even 100% rely on imports, therefore, Jinchuan Group, Purple gold mining industry and China's nonferrous metals and other large mining enterprises are increasing the investment and expansion of overseas resources.