China strikes gold in rare M&A deal

Shandong Gold’s acquisition of a 50% stake in Barrick marks one of the largest gold purchases by a Chinese buyer – an interesting change from copper and coal deals.

In purchasing half of Barrick Gold’s Veladero mine for $960 million, Shandong Gold took advantage of a rare chance to buy a world-class sizeable mine.

But this is just the start of their relationship the new partners will go on to explore the Pascua-Lama deposit and then other mines in the El Indio Gold Belt on the border of Argentina and Chile, including the Alturas project.

Despite coming from the world’s largest consumer of the yellow metal, Chinese miners are dwarfed in an industry dominated by the Canadians.

Gold mines tend to be smaller than coal and copper mines, where China has made its...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222