金川收购Metorex与五矿资源收购Anvil案例比较

Comparison of the deal between Jinchuan acquiring Metorex and MMG acquiring Anvil

为缓解我国铜资源供需严重失衡的矛盾,我国矿业企业在海外并购日益加强,非洲已经成为重要的目标地区。本文对近年矿业界的两大具有可比性的收购案例-金川收购梅特瑞斯和五矿资源收购安维尔进行了详细比较研究,通过对目标公司概况、交易概况、资源量与储量、财务预测及估值倍数的阐述及技术分析,说明在非洲进行矿业并购要付出较大的代价,二者相比金川交易比五矿有稍好的性价比。

Nowadays Chinese mining companies often acquire mines asset overseas in order to solve the issue that China copper concentrate have a big gap between the supply and demand. The Africa already becomes an important target area. The paper compares the deal in detail between Jinchuan acquiring Merotex and MMG acquiring Anvil, both asset located in Africa, including the target company and the deal introduction, the resource and the reserve of the mine, the important finance data estimate and the valuation multiple,illustrate that the mining M＆A in Africa have a higher cost, but Jinchuan＇s deal is little better than MMG＇s.