Market Chatter: Zhaojin Mining Seeks Gold Acquisitions in Africa

MT Newswires Live05-11

Zhaojin Mining Industry (HKG:1818) investment chief Xu Jianzhuo said the miner is hunting for gold assets in West Africa, including Côte d'Ivoire, Ghana,and Guinea, as US and European firms exit, Bloomberg News reported Monday.

The company is also eyeing Central Asia and Asia-Pacific projects, according to the report.

Xu said the trend of gold mergers and acquisitions is "very active" and will only strengthen despite recent price pullbacks. The miner is also cautiously exploring small copper projects in southern Africa.

Shares of Zhaojin Mining Industry were down 4% in recent trade.

(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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