Chifeng Jilong Gold Mining (SHA:600988, HKG:6693) is targeting overseas acquisitions amid surging prices of gold, Nikkei Asia reported Monday, citing Chief Executive Officer Yang Yifang.
Gold prices have risen, fanned by interest rate cuts and geopolitical uncertainties, according to Nikkei.
Amid the rise in prices, Chifeng's CEO called for prudence, the report said.
"We are exploring opportunities broadly, without being limited to any single location," Yang said in an interview with Nikkei.
Chifeng will steer clear of unstable or high-risk markets, and wants "to go somewhere with stable policies," Nikkei said, citing Yang.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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