25.4 C
Belgrade
16/04/2024
Mining News

Shandong Gold mining plans to acquire 70% stake in Tolgoi gold mine operator for CNY 471 Million

Shandong Gold Mining, a subsidiary of China’s state-owned enterprise Shandong Gold Group, intends to purchase a 70% stake in Baotou Changtai Mining, the operator of the Tolgoi Gold Mine in Inner Mongolia.

The acquisition, valued at CNY 471 million (USD 66 million), will provide Shandong Gold with over 16 tons of proven gold reserves, expected to grow to more than 20 tons through ongoing exploration. This move marks Shandong Gold’s third gold mine acquisition this year, following investments in China’s largest single gold mine and Osino Resources, a Canadian gold exploration company.

Supported by

Related posts

Sweden’s role in Europe’s quest for rare metals: Navigating geopolitical risks and supply chain challenges

David Lazarevic

Turning waste into opportunity: EU-funded projects lead the way in sustainable resource management

David Lazarevic

Ireland Strategic Investment Fund commits €30m to responsible mining ventures

David Lazarevic
error: Content is protected !!