31 C
Belgrade
Supported byspot_img
spot_img

Shandong Gold Mining set to acquire 70% stake in Tolgoi gold mine operator for CNY 471 million

Member of Europium Groupspot_img
Supported byspot_img

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 byElevatePR Digital

Related News

CATL explores $1.5 billion fund to boost global battery supply chain

China's Contemporary Amperex Technology (CATL), the world's largest electric vehicle battery manufacturer, is in discussions with overseas sovereign wealth funds and private offices of...

Securing Europe’s critical raw materials: Addressing funding challenges for sustainable extraction

Bernd Schäfer, CEO of EIT Raw Materials, advocates for substantial investment in Europe's mining sector following the implementation of the Critical Raw Materials Act...

Strengthening global sustainability: The SCMA and critical minerals for climate goals

Canada's Minister of Energy and Natural Resources, Jonathan Wilkinson, together with Sweden's Minister for Energy, Business and Industry, Ebba Busch, announced Sweden's accession to...

Nickel mining and the green energy challenge: Balancing supply with environmental responsibility

Nickel is poised as a critical element in the global shift towards green energy, yet its extraction poses significant environmental challenges, recently highlighted by...
Supported by
Supported by
Supported by
error: Content is protected !!