Jinchuan to buy Canadian mining company

The Chinese metals company will pay $214 million for Tyler Resources in a plan to secure raw materials from Tyler's mines in Mexico.

Chinese mining company, Jinchuan Group, is set to buy Tyler Resources of Canada for C$214 million $214.3 million driven by the potential to secure inputs from the Bahuerachi property that Tyler owns.

Jinchuan will make an offer to all shareholders of Tyler at a price of C$1.60 per share in cash. The price represents a 116% premium to Tyler's closing price on October 18, 2007, the last trading day before Mercator Minerals made an unsolicited offer for Tyler. The price...

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