| China's gold producer eyes new overseas deals |
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| Wednesday,October 21,2009 Posted: 19:41 BJT(41 GMT) |
| From:China ECCO Pak Article type:Reproduced |
BEIJING, Oct. 21 (Xinhua) -- The state-controlled China National Gold Group Corporation is planning to step up presence in central Asia, Russia and Africa as part of its plan to scout for new investment destinations, China Daily reported Wednesday.
The company is considering two new precious metals projects in these regions and expects to finalize the deals early next year, the newspaper said, citing Tong Junhu, overseas business manager of China Gold.
The nation's largest gold producer also said it has achieved breakthroughs in Russia and Mongolia but declined to divulge any details.
China Gold is the controlling shareholder of Zhongjin Gold Co. Ltd., the first gold stock in China. Zhongjin's interim report said it would acquire five gold mines in the second half of this year, adding some 100 tonnes of new gold reserves.
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