Xi Niu Cai Jing·2026-02-24 07:57Core Viewpoint - Jiangxi Copper has made significant progress in acquiring SolGold, with key approvals obtained for the acquisition plan, which is expected to finalize on March 4, 2025 [2] Group 1: Acquisition Details - Jiangxi Copper will acquire all issued and to-be-issued shares of SolGold at a cash price of 28 pence per share, totaling approximately £867 million (about 8.2 billion) [4] - The offer represents a 42.9% premium over SolGold's closing price of 19.6 pence on November 19, 2025, prior to initial contact [4] - The acquisition faced challenges, with previous non-binding offers of 26 pence being rejected before the final offer was accepted [4] Group 2: Shareholder Support - Key shareholders, including BHP, Newmont, and Maxit Capital LP, holding approximately 25.7% of shares, have provided irrevocable commitments to vote in favor of the acquisition [4] - SolGold's board has also expressed support for the acquisition, indicating a unified front for the transaction [4] Group 3: Strategic Importance - SolGold's core asset, the Cascabel copper-gold project in Ecuador, is considered one of the most promising undeveloped copper mines globally, with proven copper resources exceeding 20 million tons and gold resources over 10 million ounces [5] - The project has a high copper grade of 0.7%, significantly above the global average of 0.5% [5] - The acquisition is strategically important for Jiangxi Copper, as it could potentially double its future copper production and alleviate issues related to low raw material self-sufficiency and weak profitability in the smelting segment [5]