Zijin ups bid in muted market for Nkwe

CHINESE concern Zijin Mining Group has upped its cash offer for the 40% of Nkwe Platinum it doesn’t own, from 8c to 10c, with the formalisation of a long-flagged mop-up offer for the Perth-based platinum player.

Zijin ups bid in muted market for Nkwe Zijin ups bid in muted market for Nkwe Zijin ups bid in muted market for Nkwe Zijin ups bid in muted market for Nkwe Zijin ups bid in muted market for Nkwe

Platinum is trading at lows not seen since 2008.

The 25% increase in the offer for Nkwe is a counter-cyclical move, and comes as the white metal hit its lowest level in a decade this week, dipping as low as US$760/oz.

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