PanAust rejects Guangdong Rising's "low" offer

Chinese state-owned companies are back in the hunt for mining assets but, after past missteps, they are exercising more discipline in their bids.

PanAust rejects Guangdong Rising's "low" offer

Chinese state-owned Guangdong Rising Assets Management's bid for Australian-listed copper and gold producer PanAust, which values the latter at A$1.5 billion $1.4 billion, is the latest in a flurry of mining-related acquisitions as Chinese companies seek to secure resources. 

On May 6, state-owned Baosteel group teamed up with Australian rail freight company Aurizon and made an unsolicited bid for Aquila Resource, valuing the Australian company at A$1.4 billion.

However,...

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