Chinese miners ready to bulk up''With stronger and bigger Chinese players emerging, we could see a significant pickup in the volume of overseas acquisitions
Zhaojin Mining Industry, China's fourth-biggest gold producer, is studying takeovers in South America and other regions and may announce a deal ''in the near future,'' Chen He, assistant to the company's president, said in November.
Two gold companies that could attract Chinese interest are Saracen Mineral Holdings of Perth and Colorado-based Alacer Gold, which has assets in Australia and Turkey, according to Troy Irvin, a Perth-based analyst at Argonaut Securities.
Their large reserves and production assets typically appeal to Chinese companies, Irvin said. Officials at Saracen and Alacer declined to comment or weren't immediately available.
''The Chinese see the value of building bigger companies to compete with major mining companies in the world,'' said Deloitte's South. CGG producing 15 million oz a yr for China should be CNG and China s Goal and helping Junior Miners that are struggling , and the Tsx should allow China to tap in that 80 billion to help CGG buy up 50 mines to produce 15 million oz a yr to help China s Demand!