July 21, 2017 2:55 AM ET

Metals and Mining

Company Overview of Shandong Gold Group Co., Ltd.

Company Overview

Shandong Gold Group Co., Ltd., through its subsidiaries, mines gold, non-ferrous metals, and metals and other non-metals in China and internationally. The company engages in exploring, exploiting, selecting, smelting, processing, and marketing gold; and geological exploration, exploitation and smelting, processing, and selling of metal and non-metal mines. It also operates in real estate and tourism real estate businesses. In addition, the company engages in investment business, financing business, and fund management; and provides financial consulting and assets management solutions. Further, it provides import and export, and entrepot trade. The company has a strategic cooperation agreemen...

Shun Thai broad field, Building No. 3

No. 2000, Jinan Nan Shun Hua road

Jinan,  250101

China

Founded in 1996

Phone:

86 531 67710085

Fax:

86 531 67710038

Key Executives for Shandong Gold Group Co., Ltd.

General Manager
Director of Operations
Managing Director
Compensation as of Fiscal Year 2017.

Shandong Gold Group Co., Ltd. Key Developments

Barrick Gold Corporation Announces Strategic Cooperation Agreement with Shandong Gold Group Co., Ltd

Barrick Gold Corporation announced that it has entered into a strategic cooperation agreement with Shandong Gold Group Co., Ltd. (‘Shandong’). As a first step in the new partnership, Shandong Gold Mining Co., Ltd. will acquire 50% of Barrick's Veladero mine in San Juan province, Argentina, for $960 million. As a second step, Barrick and Shandong will form a working group to explore the joint development of the Pascua-Lama deposit. As a third step, both companies will evaluate additional investment opportunities on the highly prospective El Indio Gold Belt on the border of Argentina and Chile, which hosts a cluster of world-class gold mines and projects including Veladero, Pascua-Lama, and Alturas. Upon completion of the transaction, the Veladero mine will be overseen by a Joint Venture Board consisting of three nominees appointed by each company. In order to ensure continuity of operations, both companies intend to maintain the mine's current management team following closing of the transaction. Proceeds from the transaction will be used to reduce debt and for investments in business to grow free cash flow per share. The transaction is expected to close at the end of the second quarter of 2017, and is subject to regulatory and other approvals, including Shandong Gold Mining Co., Ltd. shareholder approval, and other customary closing conditions.

Shandong Gold Group Seeks Acquisitions

Shandong Gold Group Co., Ltd., owner of China’s second-largest gold miner by market value, is seeking to expand overseas to feed rising local demand following bullion's best quarter in almost three decades. The gold mining company, based in Jinan, Shandong province, is targeting assets in countries that have stable social conditions. The focus is both across the Belt and Road Initiative countries and in North America, according to General Manager Li Guohong.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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