Is It Time To Buy Some Zijin Mining Shares To Replace Nevsun?

About: Nevsun Resources Ltd. (NSU), ZIJMF, ZIJMY, Includes: IVPAF, RIO
by: Peter Arendas
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Peter Arendas
Long only, commodities, research analyst

Zijin Mining is a logical way how to maintain exposure to the world-class Timok copper-gold project.

Besides Timok, Zijin offers exposure also to the giant Kamoa-Kakula project that should become one of the world largest copper mines.

Today, Zijin Mining owns (or partially owns) 18 operating mines and 3 smelters and it is one of the biggest copper, gold and zinc producers in China.

Between 2013 and 2017, Zijin's EPS grew by 50%, from $0.016 to $0.024, and the 2018 EPS should be around $0.029.

The development projects give a reason to believe that Zijin's production and profits will grow also over the coming years.

On January 11, almost two months ago, Zijin Mining (OTCPK:ZIJMF) (OTCPK:ZIJMY) announced that it was able to acquire 286,347,562 common shares of Nevsun Resources (NSU) which represents more than