MELBOURNE, Dec 1 (Reuters) - Zijin Mining Group Co, China's largest listed gold company, offered A$545 million ($498 million) for Australian miner Indophil Resources NL, a bid recommended by Indophil.
Zijin offered A$1.28 a share, an 18 percent premium to Indophil's last trade, Indophil said in a statement on Tuesday.
Zijin has already agreed to buy a 19.99 percent stake in Indophil owned by Swiss-based miner Xstrata.
Indophil has a 34.23 percent stake in the $5.2 billion Tampakan copper and gold project in southern Philippines, controlled by Xstrata.
($1=1.094 Australian Dollar)
(Reporting by Sonali Paul)
((sonali.paul@thomsonreuters.com; +61 3 9286 1419; Reuters Messaging: sonali.paul.reuters.com@reuters.net)) ($1=1.094 Australian Dollar) Keywords: INDOPHIL ZIJIN/BID (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Zijin offered A$1.28 a share, an 18 percent premium to Indophil's last trade, Indophil said in a statement on Tuesday.
Zijin has already agreed to buy a 19.99 percent stake in Indophil owned by Swiss-based miner Xstrata.
Indophil has a 34.23 percent stake in the $5.2 billion Tampakan copper and gold project in southern Philippines, controlled by Xstrata.
($1=1.094 Australian Dollar)
(Reporting by Sonali Paul)
((sonali.paul@thomsonreuters.com; +61 3 9286 1419; Reuters Messaging: sonali.paul.reuters.com@reuters.net)) ($1=1.094 Australian Dollar) Keywords: INDOPHIL ZIJIN/BID (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.