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China gold-mine deals at record after price plunge: Commodities

Posted on 21 August 2013

Acquisitions by China’s gold mining companies reached a record this year as the metal’s steepest quarterly drop in more than nine decades slashes mine values and sidelines Western rivals laden with debt.
Takeovers and asset purchases by producers based in China and Hong Kong rose to record $2.24 billion this year, beating last year’s record $1.96 billion, according to data compiled by Bloomberg. Zijin Mining Group Co., the world’s seventh-largest gold company by market value, and Zhaojin Mining Industry Co. are among companies looking to strike after the share prices of targets fell an average 53 percent since bullion peaked in 2011………………………………………..Full Article: Source


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