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.
The Phu Kham Copper-Gold Operation.
The Phu Kham Copper-Gold Operation.

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. 

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