Zijin Mining Team, among China’s many acquisitive miners, claims it remains in conversations to purchase shares and possibly to take control of Zangge Mining a lithium and potash manufacturer.
Zijin remains in talks with the proprietors of Zangge that “might lead to a modification in control” of the company, it stated in a declaration to the Hong Kong Exchange. The target is based in Qinghai, a mineral-rich area in the west of China, and has a market price of 46.6-billion yuan ($6.4-billion) on the Shenzhen Stock Market.
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