Zijin Mining Group, the largest gold producer and third-largest copper producer in China, announced yesterday that it had offered to buy Australia-listed Indophil Resources for A$545m ($504m).
Under a deal Zijin would gain a minority stake in one of south-east Asia's largest untapped copper and gold deposits, in the southern Philippines town of Tampakan.
Indophil's main asset is a stake in Sagittarius Mines, the Philippines-based company that operates the Tampakan project.
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