China's Jiangxi Copper sweetens bid for UK-listed SolGold to $1.13 billion

SolGold said on Friday it was "minded to recommend" an improved offer from its top shareholder, Jiangxi Copper that values the gold and copper miner at about 842 million pounds ($1.13 billion), amid a global race for copper assets, reports Reuters.

Jiangxi Copper's increased offer of 28 pence per share marks the Chinese company's third proposal to acquire SolGold and a 7.7 per cent increase from its previous 26-pence-per-share bid that was rejected last month.

Ecuador-focused SolGold said its board would tell shareholders to accept if Jiangxi Copper (JCC) makes a firm offer on those terms.