China National Gold Group's purchase of 82 pct stake in Jinfeng completes
Updated: 2016-09-08 09:42
(Xinhua)
|
|||||||||
BEIJING - China National Gold Group, the country's leading gold producer, said that its purchase of a 82 percent stake in a gold mine in Guizhou from Canada's Eldorado Gold was completed on Wednesday.
It is the group's biggest cross-border takeover. In April, the group signed an agreement to buy 82 percent interest in the Jinfeng gold mine in southern Guizhou province from Eldorado Gold, the world's fourth largest gold producer.
"The successful takeover brings not only quality assets, but also intangible assets including advanced methods of management and operation models to us," said Song Xin, general manager of China National Gold Group.
Jinfeng processes 4,500 tons of ore daily, and produces 4 tons of gold annually.
Related Stories
Lin Hong knows and shows green is gold 2016-09-03 08:49
China's Zhongjin Gold first half profits nearly triple 2016-08-30 10:00
Zijin Mining's profits plunge 60% 2016-08-29 11:07
Gold settles lower on profit-taking despite weaker dollar, equities 2016-08-13 09:59
Record levels of gold bought in first half of 2016: World Gold Council 2016-08-12 13:54
Today's Top News
Next step:Global action on growth
Greenland starts on UK's tallest residential building
Chinese women find their way through glass ceiling
China, UK vow to push 'golden-era' ties forward
MPs to debate second Brexit referendum petition
Xi urges China, UK to deepen mutual trust, ties
Pandas now classed as 'vulnerable'
G20 to explore long-term growth potential: China's Xi
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Hollywood snaps up rock star's dog film |
Chinese people welcome dispossessed |
The can-do generation to the fore |
Riding the wave |
Leisure giants buoy cruise market |
She followed her heart |