Jiangxi Copper increases SolGold takeover bid to $1.12bn

Jiangxi Copper increases SolGold takeover bid amid strong gold demand

Jiangxi Copper has increased its takeover bid for SolGold to $1.12bn, valuing the Ecuador-focused miner at 28p per share. The updated offer represents a 7.7% rise from the previous 26p-per-share proposal rejected last month.
SolGold’s board is “minded to recommend” the revised offer if Jiangxi Copper submits a formal proposal.

The offer marks Jiangxi Copper’s third non-binding attempt to acquire SolGold. Strong gold price growth this year, fueled by geopolitical tensions, has increased interest in safe-haven assets.
As a result, consolidation in the global mining sector has accelerated.

Jiangxi Copper increases SolGold takeover bid with key shareholder backing

Jiangxi Copper has secured letters of intent from major shareholders covering 40.7% of SolGold’s voting rights. BHP, Newmont, Maxit Capital, and SolGold CEO Nicholas Mather all support the revised offer. Jiangxi Copper has held a 12.2% stake in SolGold since December 2022, strengthening its position.

The backing from key stakeholders increases the likelihood of a successful acquisition. This support signals confidence in Jiangxi Copper’s strategy and the long-term value of SolGold’s copper and gold assets. Investors will watch closely as the formal offer process unfolds in the coming weeks.

SuperMetalPrice Commentary:

Jiangxi Copper increases SolGold takeover bid strategically amid strong gold prices. The company leverages shareholder support to secure a controlling position in Ecuador’s copper and gold mining sector.
This move highlights ongoing consolidation trends and Asia’s growing influence in global mining markets.