Chinese - Major Chinese producer of gold Zijin buys Australian mine-layer Indophil

01-12-2009 newspaper

The biggest producer of gold and the third one of copper of China, Zijin,
there will buy for 498 million Dollars (approximately 332 million Euros) the Australian mine-layer Indophil Resources NL, which controls part of one of the biggest deposits of gold and copper of the Asian Southeast.

The operation, which must receive the approval of the Chinese and Australian regulators, will allow to Zijin to do with 34 % of the project Tampakan, in the Philippine island of Mindanao.

It is anticipated that the deposits of this project are provided with approximately 13.500.000 of tons of copper and 15.800.000 of golden ounces.

tampakan

Indophil pushed last year 2008 an acquisition offer back for 390 million dollars (260 million euros) of the Swiss Xstrata, who possesses the rest of the project Tampakan.

01-12-2009

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