Chinese mining company bought 82% stake in the mine from the Canadian company
Date: 15:45, 08-09-2016.
Almaty. September 8. Silkroadnews – Chinese gold mining company China National Gold Group completed the acquisition of 82% stake in «Jinfeng» mine, Guizhou Province (Southwest China), from the Canadian company Eldorado Gold (the fourth largest gold producer in the world), «Xinhua» agency reports.
According to the head of the China National Gold Group Song Xin, the deal provides for the purchase of not only the tangible assets but also such intangible assets as improved methods of management and enterprise operational practices.
The agreement on the deal was signed in April of this year.
The daily output of «Jinfeng» mine amounts to 4.5 thousand tonnes of ore; the annual output amounts to four tonnes of gold.
