Offers for Indonesian mine

Source:Global Times Published: 2017/9/12 22:13:39

Two Chinese gold mining companies are reportedly bidding for EMR Capital's Martabe gold mine in Indonesia, making an offer of $1.5 billion, domestic news site reported on Tuesday.

Shandong Gold Group Co, one of the biggest Chinese miners of the metal, and China Gold International are both bidding for the mine, the report said.

The giant Martabe gold mine in Sumatra has drawn several unsolicited inquiries from buyers, its majority owner, EMR Capital, said on August 3, according to Reuters.

Shandong Gold's listed arm agreed to pay $960 million for a stake in a Barrick Gold Corp mine in Argentina in April.

Posted in: COMPANIES

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