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China’s Shandong Yulong drops plan to buy Australian gold miner

April 22 (Reuters) - China's Shandong Yulong Gold 601028.SSsaid on Thursday it intended to pull out of a deal to buy Australian gold miner Barto Industry Co, citing recent changes in the international economy and macro environment. The company announced on March 5 it would acquire Barto from fellow Chinese firm Shandong Tianye by assuming the target company's debt of 1.22 billion yuan ($188 million). In a filing to the Shanghai Stock Exchange, Yulong said it had carefully studied the transaction "in light of the recent changes in the international...
ChinaDealsGhanaGoldUncategorized

China’s Chifeng Jilong walks away from deal to buy Ghana gold mine

Adds detail, background, attempt to seek comment from Resolute April 19 (Reuters) - China's Chifeng Jilong Gold Mining 600988.SS on Monday cancelled an agreement to buy the Bibiani gold mine in Ghana, saying it had not received timely information from the seller about the termination of the mining lease. Australia-based Resolute Mining RSG.AX agreed to sell Bibiani to Chifeng Jilong for around $105 million in December, apparently extending a flurry of Chinese M&A in the gold mining sector, only to announce last month its lease had been terminated by the Ghanaian government. The lease was restored...
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