Nyrstar NV, a zinc producer from Belgium, has recently offered an improved takeover bid of 19.5 cents per share for the Australian miner CBH Resources. CBH Resources has also confirmed today it has received an improved takeover offer worth $A213.5 million from Nyrstar. However, CBH has not decided yet whether to accept the offer or not.

Earlier in December 2009, Nyrstar had offered an $A148 million takeover bid of 13.5 cents for each CBH shares. But the board of CBH rejected the offer in favor of the proposed joint venture with Toho Zinc, its largest shareholder.

Also in its recent bid, the Belgium based zinc producer offered to pay $A 750 per convertible note. That brings the total offer valued at $A 290 million.

CBH Resources, which produces zinc, lead and silver in New South Wales and Western Australia, has appointed a committee of its directors to provide a preliminary response to Nyrstar early next week.

Earlier in the day, shares of CBH had been placed in a trading halt by the company, pending further details regarding a potential change of control transaction. And after releasing from the halt, the shares of the company jumped around 30% and closed at 18 cents.