|Bid||2.220 x 0|
|Ask||2.230 x 0|
|Day's Range||2.200 - 2.280|
|52 Week Range||1.940 - 3.580|
|Beta (5Y Monthly)||2.32|
|PE Ratio (TTM)||74.33|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||May 23, 2014|
|1y Target Est||2.81|
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(Bloomberg) -- China’s MMG Ltd. has clinched one of the biggest copper deals of the year, agreeing to pay $1.9 billion for a mine in southern Africa as major commodities groups vie to add supply of the red metal.Most Read from BloombergCitigroup Cuts Over 300 Senior Manager Roles in Latest RestructuringOpenAI in ‘Intense Discussions’ to Quell Potential MutinyNearly All of OpenAI Staff Threaten to Go to Microsoft If Board Doesn’t QuitThe Doomed Mission Behind Sam Altman’s Shock Ouster From OpenAI
"The acquisition of Khoemacau mine is an important step in achieving our vision of creating a leading international mining company for a low carbon future and will create meaningful long-term value for our shareholders," MMG Chairman Jiqing Xu said in a statement. Smelters in China, the world's top consumer of refined copper, face an increasing challenge in securing copper concentrate, as they boosted capacity in recent years amid slower mining output growth. Reuters in September reported that at least three South African miners were in a race to buy the mine that is home to one of Africa's largest copper deposits, as growing demand for the metal ensures strong competition for the sought-after asset.
Chinese government-backed mining company MMG is acquiring a copper mine in southern Africa as it looks to bolster its stockpile of a metal that is in high demand.