Stocks News
- Zhaojin Mining to buy gold mining firms
Date: 26-Jun-2007 Sources: (Shenzhen Daily)
DOMESTIC gold producer Zhaojin Mining Industry Co. said yesterday it will buy three gold mining companies for 159.2 million yuan (US$20.95 million) to expand its exploration opportunities.
Zhaojin Mining said in a statement it will buy 51 percent of Xixia Zhaojin Mining Co., 90 percent of Tuoli Zhaojin Beijiang Mining Co. and 80 percent of Min Tianhao Gold Co. from major shareholder Shandong Zhaojin Group Co., which holds 37.3 percent of Zhaojin Mining. Zhaojin Mining will also buy all the shares in the three companies held by three independent parties. The statement didn't identify the parties.
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