On April 4, Minmetals Resources Limited, a HK-listed company owned by China Minmetals Non-ferrous Metals Co., Ltd. under Minmetals, announced its proposed acquisition of Equinox Minerals Limited (hereinafter referred to as “Equinox”) at a price of CAD 7.0 per share and a total purchase price of CAD 6.3 billion. This transaction was subject to the approval from relevant government authorities and the termination of the Equinox shareholder equity plan.

Equinox is a medium mining company listed in Toronto Stock Exchange and Australian Securities Exchange. It had a market value of CAD 5 billion on April 1. Its core assets are Zambia Lumwana Copper Mine (went into operation in 2008, designed annual copper concentrate production of 120-150 thousand tons, operation period: 37 years) and Saudi Arabia Jabal Sayid Copper Mine (under construction, designed annual copper concentrate production of 50 thousand tons, operation period: 11 years).

Minmetals Resources Limited engaged Deutsche Bank and Macquarie Capital Advisers as financial consultants for the transaction, Davies Ward Phillips & Vineberg LLP as the Canadian legal adviser, Freehills as the Australian legal adviser, and Linklaters as the Hong Kong legal adviser.