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Dec 15, 2020 06:36 PM (GMT+8) · EqualOcean
Chifeng gold announced that it plans to acquire 100% equity of mensin bibiani Pty Ltd, an Australian listed company, and three Ghana subsidiaries of the target company through its wholly-owned subsidiary Chijin Hong Kong. The consideration for the underlying equity transaction was US $108.9 million. By acquiring the control of bibiani mine, the company can quickly increase its gold reserves. The bibiani mine is expected to produce 3 tons of gold per year and is currently in the phase of shutdown and maintenance.