| Factbox: Recent flurry of M&A by China's big miners | |
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(Reuters) - China's big miners are snapping up gold mines and strategic minerals in a deal binge that comes as governments in mineral-rich Canada and Australia tighten restrictions on foreign investment. Here are some of the recent deals and their status:
- Shandong Gold Mining Co in May offered C$230 million ($165 million) to buy Canada's TMAC Resources. The deal requires Canadian government approvals. - Shandong Gold on June 18 offered A$321 million ($221 million) for Ghana-focused miner Cardinal Resources Ltd. The deal is subject to review by Australia's Foreign Investment Review Board. - Zijin Mining Group Co Ltd on June 12 agreed to buy Toronto-listed Guyana Goldfields for C$323 million ($238 million). The deal is subject to approvals. - Zijin Mining on June 7 acquired a 50.1% stake in Tibet Julong Copper Co Ltd for $548 million. - Zijin Mining in February completed its C$1.3 billion acquisition of Colombia-focused Continental Gold. - China's Goldsea Group said on June 24 it will let a takeover bid by its local unit for Australian gold miner Alto Metals lapse after the country's foreign investment board sought extra time to consider the deal. - China’s Baogang was blocked from taking up a $20 million stake in rare earths miner Northern Minerals which owns the advanced Browns Range heavy rare earth project in Australia's north. - Privately held Yibin Tianyi Lithium Industry in May completed a A$10.7 million investment in lithium hopeful AVZ Minerals, which has a project in the Democratic Republic of Congo. The deal was amended after Australia's FIRB advised that an earlier proposal for a 12.1% stake in AVZ faced rejection for being "contrary to the national interest." Sources: Company filings
(Reporting by Jeff Lewis in Toronto; Additional reporting by Melanie Burton in Melbourne and Tom Daly in Beijing; Editing by Denny Thomas and Matthew Lewis) |
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Zijin Mining Group Co.
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PRODUCER |
CODE : 2899.HK |
ISIN : CNE100000502 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Zijin Mining is a gold producing company based in China. Zijin Mining holds various exploration projects in China and in Peru. Its main asset in production is JILAU GOLD MINE in Tajikistan, its main asset in development is SHUIYINDONG in China and its main exploration properties are QUINGHAI, JINSHANGOU and ZIJINSHAND in China. Zijin Mining is listed in Germany, in Hong Kong and in United States of America. Its market capitalisation is 378.7 billions as of today (US$ 55.1 billions, € 51.5 billions). Its stock quote reached its lowest recent point on June 28, 2013 at 1.23, and its highest recent level on April 26, 2024 at 17.58. Zijin Mining has 21 540 741 120 shares outstanding. |