Jinchuan takes upper hand in Metorex battle

摘要

South African miner Metorex pic has received a $US1.32 billion offer from China's Jinchuan Group, trumping a bid by Brazilian giant Vale SA and lifting its share price. The battle for the South African-listed copper and cobalt producer is the latest saga in the scramble for African resources by emerging market giants China and Brazil, which have an insatiable appetite for raw materials to fuel their growth.