Jinchuan Makes Offer For Canada's Crowflight

Chinese Mining Giant In $150m Cash Bid

China’s Jinchuan Group has made a $150 million cash offer for Canadian nickel producer Crowflight Minerals.

Crowflight Minerals recently restarted production at the Bucko Lake Nickel Mine in Manitoba, and has a number of platinum group metals, nickel and copper projects in the Sudbury Basin and Thompson Nickel Belt in Ontario.

Jinchuan is become a global mining giant that controls mining, processing, refining and other metal processing and manufacturing lines. It production of nickel ranks fourth in the world; its production of cobalt ranks second in the world; and its mining and processing technology ranks third in the world.

Jinchuan has made a partly-diluted offer of 22 cents per share. By 3.30pm local time on Tuesday Crowflight Shares stood at 21.5 cents, a rise of 26.5%.