Once the deal closes, Shell's only involvement in Canada's oil sands will be through its 10% stake in the Athabasca Oil Sands Project, majority owned by CNR and Chevron.
Nevsun, who declined the offer for the fourth time, said the proposal undervalued its Timok copper-gold project in Serbia and that junior Euro Sun was “not an attractive partner”.
The miner said it would take up to three months for stocks to return to normal, which will affect both projected output and sales in the six months ending June 30.
Chinese companies continue to aggressively try securing steady supply of lithium, a key ingredient in the making of batteries that power electric cars.
