Loading ...China’s Zijin Mining to buy Canada’s Continental Gold for about $1 bln
BEIJING, Dec 2 (Reuters) – Zijin Mining Group Co Ltd , one of China’s biggest gold miners, has agreed to buy Canadian miner Continental Gold Inc for C$1.33 billion ($999.92 million), saying the purchase would increase its gold reserves and boost cash flow as well as profit.
Zijin will pay C$5.50 per share in cash for Continental, a premium of about 13% to the Canadian company’s closing price on Friday, as it aims to secure Continental Gold’s flagship Buriticá gold project, the Chinese company said in a filing to the Shanghai Stock Exchange.
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