China National Gold Corporation African Barrick Gold, Tanzania's largest gold miner -- a wholly owned subsidiary of Canada's Barrick Gold Corp (ABX). If approved by regulators in Tanzania as well as in London, where African Barrick Gold is traded, it will become China's first gold mine outside its borders and will double China National Gold's total production capacity. The Chinese are able to offer quite a bit to Africa, including help with infrastructure development for natural resource extraction. They are also able to add sweeteners to their deals with African governments, like grand public projects such as soccer stadiums and new government office buildings. Just last year, the Chinese government completed the African Union's brand new $200 million headquarters building in Addis Ababa, as a gift from the Chinese people.
The purchase of Barrick, which is expected to go through, would represent a new front in China's acquisition of Africa's natural resources, one where Chinese interests increasingly buy-out Western owned companies operating in African regions that are financial, public, and political liabilities.
China Gold International Resources Corp Ltd. Rubicon Minerals Corp, sound Nice after Mundro in CGG name and Monnis news first in CGG name ! and PUT CNMC also in CGG name and CNMC just raised 2 billion cash would be better for share holders of CGG ! and there subsidiaries some smart swift moves FOR CNG takes CGG sp to $20.00 !
Sinomine Resource (M) Sdn Bhd has been chosen by CNMC Goldmine Holdings Ltd for diamond core drilling services worth US$9.4mil (RM29mil) in Sokor, Kelantan.
The firm stated that its 81%-owned subsidiary CNMN Mining Group Sdn Bhd has awarded the contract to Sinomine.
Under the contract, Sinomine shall offer diamond core drilling services with an overall estimated footage of 50,789 metres for the third phase of its drilling programme at the goldmine project in Sokor.
Nov. 22, 2012 (China Knowledge) - China National Gold Group Corp, one of the country's largest gold producers, will issue RMB 2 billion in super short-term bills with a maturity of 270 days in the interbank market tomorrow. The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on Nov 26, and the to-be-issued bills tradable Nov 27. RMB 1.5 billion of the proceeds
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China Gold Int Resources Corp. (CGG.TO)
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