Tag: Golds

Canada rejects Shandong Gold’s bid to buy Arctic gold mine

The Canadian governing administration has turned down Shandong Gold Mining’s bid to obtain Canada’s financial debt-saddled TMAC Means, the corporations said, with the Chinese miner including that the sale was blocked on nationwide stability grounds.

As the COVID-19 pandemic has induced economic dislocation, countries from Australia to Canada have enhanced scrutiny on bargains by point out-operate Chinese miners this calendar year.

In a filing to the Shanghai Stock Trade on Tuesday, Shandong Gold, 1 of China’s most important gold miners, mentioned it experienced gained see of a decision by Canadian authorities on Dec. 18 that it should really not commence with the offer.

In its have submitting late on Monday, TMAC also mentioned it been knowledgeable of this sort of an order underneath the Financial investment Canada Act.

Shandong Gold claimed in Might it would shell out C$230 million ($179 million) to receive TMAC, which operates the Doris mine in

Canada rejects Shandong Gold’s bid to purchase Arctic gold mine

Chinese miner planned to purchase TMAC Sources for C$230 mln

Canada had been conducting countrywide stability evaluate of the offer

Adds TMAC statement, background

Dec 22 (Reuters)The Canadian govt has turned down Shandong Gold Mining’s bid to get Canada’s TMAC Resources TMR.TO, the companies mentioned, with the Chinese miner introducing that the sale was blocked on countrywide safety grounds.

As the COVID-19 pandemic has prompted financial dislocation, nations around the world from Australia to Canada have enhanced scrutiny on deals by point out-operate Chinese miners this calendar year.

In a filing to the Shanghai Stock Exchange on Tuesday, Shandong Gold 600547.SS, 1787.HK, just one of China’s biggest gold miners, reported it experienced been given notice of a choice by Canadian authorities on Dec. 18 that it need to not continue with the offer.

In its individual filing late on Monday, TMAC also explained it