Canadian miner Nevsun Resources said it is not aware of any bid for the company, responding to a Bloomberg report that Qatar-backed mining fund QKR Corp was close to making a $1 billion bid.

QKR Corp, a mining fund led by former JPMorgan Chase & Company banker Lloyd Pengilly, is funded by Qatar’s sovereign wealth fund and Poland’s richest man Jan Kulczyk.

The company's shares rose as much as 25 per cent on the Toronto Stock Exchange after Bloomberg reported on the QKR bid.

Vancouver-based Nevsun, which owns 60 per cent of the Bisha gold, copper and zinc mine in Eritrea in East Africa, said it received proposals for transactions from various parties and these discussions were at a preliminary stage.-Reuters