The unprecedented scale of the unrest, including rioting and looting, has worried many residents who stocked up on goods, emptying supermarket shelves.
After developing a reputation as a disruptive industry force for its role in popularizing nickel pig iron production in China, Tsingshan looks set to upend the industry’s supply and demand dynamics again.
The deal ups Zijin’s holding to 13.88% from 9.8% and reduces Friedland’s to 13.2%, leaving two Chinese companies as the Canadian miner’s top shareholders.