China Hanking Holdings (HKG:3788) unit HGM Resources will sell 100% equity interest in Primary Gold to Huineng Gold, a Friday bourse disclosure said.
The consideration for the deal comprises an initial purchase price of AU$300 million plus an environmental bond amount of around AU$3.1 million, subject to adjustment.
Primary Gold holds the company's gold exploration and gold mine development business and assets in the Northern Territory of Australia.
Shares of the iron ore miner closed nearly 7% higher on Friday.
Price (HKD): $0.94, Change: $+0.06, Percent Change: +6.82%
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