GREY:OLEPF - Post by User
Post by
maya123caon Dec 05, 2012 9:51pm
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Post# 20690142
Something to munch on while you have your morning
Something to munch on while you have your morning Another trend to take in to account is China's growing interest in natural resources – basic materials, energy, and others. What gets underreported, however, is that the Chinese are also purchasing gold mines. Here is a list of Chinese gold-mining acquisitions over the last year:
November 2011: Baiyin Nonferrous Group completes a takeover of Gold One International, a gold operator in South Africa.
December 2011: China Gold International Resources Corporation buys a gold mine in Central Asia, and is reported to be looking at Canada and Mongolia for its next targets. (It bought Canadian gold miner Jinshan a few years ago.)
December 2011: The Chinese take control of A1 Minerals, a gold exploration and production company, and rename it Stone Resources Australia.
December 2011: Shanghai investors buy a controlling stake in the Australian-owned Zara gold project in Eritrea.
April 2012: Sovereign Gold partners, along with Jiangsu Geology & Engineering, pay $4 million for a 30% interest in two gold tenements (an area of land in Australia where the holder may conduct exploration or mining activities). In November 2012 the firm increased its funding to fast-track exploration and development of the projects.
August 2012: A subsidiary of Zijin Mining Group (China's top gold producer by output) buys more than 50% of Norton Gold Fields, acquiring a large, operating gold miner.
August 2012: China National Gold Corporation announces a $3.9 billion bid to acquire African Barrick Gold, Tanzania's largest gold miner. If the deal is approved, China National Gold's production capacity will double.
September-December 2012: China's Shandong Gold Group announces its intention to purchase 51% of Australian gold miner Focus Minerals, which has four active mines in Western Australia. The deal is expected to be completed early this month.
November 2012: China-based Western Mining Group, through its subsidiary, buys all the outstanding shares of Inter-Citic Minerals, a Canadian-based gold exploration and development company..