China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
China’s largest gold producer, China Gold Group, announced yesterday that it will be accelerating its overseas acquisitions to secure resources abroad.
Deputy general manager Song Xin said that China Gold is currently conducting due diligence on a potential takeover of African Barrick Gold plc.
Other Chinese gold mining companies are also targeting overseas takeovers, including Shandong Gold, Zijing Mining and Zhaojin Mining.
Source: People’s Daily Online is the English version of the People’s Daily, a national newspaper affiliated with the Central Committee of the Communist Party of China. Tags: African Barrick Gold plc, China Gold Corp., Gold, Shandong Gold-Mining Co. Ltd, Zhaojin Mining Industry Company, Zijin Mining Group Company Limited
Source (English): People’s Daily Online via BrightWire News.
