The company is mired in disputes with the governments of Tanzania and the Democratic Republic of Congo over law changes that raise taxes in the countries.
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.
A U.S. court ruled that the Chaupe family case against Newmont Mining Corporation should be heard in Peru - not Delaware, where the company incorporated almost 100 years ago.