Copper and cobalt producer Metorex's listing on the JSE will be suspended from January 9.

Providing a finalization announcement with regards to the ZAR 9.1 billion takeover by China's Jinchuan Group, Metorex said the last day to trade its shares on the local bourse would be January 6.

The company in a statement said that "Metorex and Jinchuan are pleased to announce that all conditions precedent to the scheme and offer have been fulfilled.”

Jinchuan's closure of the deal seals its victory over Brazilian resources giant Vale, which made an offer for Metorex earlier in 2011.

Vale offered to buy Metorex for ZAR 7.35 a share in a deal that valued the local company at about ZAR 7.5 billion, but its offer was trumped by Jinchuan in July when the Chinese company bid ZAR 8.90 a share which was 21% more than Vale's offer.

Metorex was founded in 1975 when the founding consortium including Malone acquired Rand London Mines and over the years mined several diverse commodities including gold and coal.

(Sourced from www.businesslive.co.za)