Copper and gold company Solaris has decided against selling a minority stake to China’s Zijin Group, owing to concerns that the transaction – announced in January – would not meet Canada’s foreign investment standards within a reasonable timeframe.
The transaction entailed Solaris’ selling a 15% stake to Zijin for C$130-million to support the development of the Warintza copper project, including the potential major purchase of an adjacent asset in Ecuador.