Tag Archives: Bisha Takeover

Next Billion Dollar Mining Takeover Could be in Eritrea

Qatar-Backed QKR Corp. poised to takeover Nevsun's 60 percent share of the Bisha gold, copper and zinc mine in Eritrea for a $1 Billion Bid
Qatar-Backed QKR Corp. poised to takeover Nevsun’s 60 percent share of the Bisha gold, copper and zinc mine in Eritrea for a $1 Billion Bid

By James Fraser,

RUMORS are circulating this morning that the latest takeover in the mining space will be Nevsun Resources (NSU.T). Bloomberg is reporting that QKR Corp, a mining fund backed by Qatari investors, is set to make a $1 billion bid for Nevsun. QKR Corp is led by Lyold Pengilly, a former banker at JP Morgan.

Nevsun’s stock was halted at 7:22 am (pst) and is up 13.2% on 1.9 million shares traded giving the company a market cap of  ~$956.9 million. Continue reading Next Billion Dollar Mining Takeover Could be in Eritrea