Chinese miner in Perilya bid

Australian miner welcomes Zhongjin's $269.3 million takeover proposal.

China's number three zinc producer is looking to buy Australian miner Perilya (PEM) in a deal that values the mining company at $269.3 million.

Shenzhen Zhongjin Lingnan Nonfemet Co Ltd already owns 53.4% of Perilya, which operates base- and precious-metal mines in Australia and the Dominican Republic.

The company said it wanted to buy the rest of the stock for 35 Australian cents a share.

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