Zhongjin, Shandong Gold Compete for Two Chinese Mining Companies
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Zhongjin Gold Co., the listed unit of China’s biggest producer of the precious metal, and Shandong Gold Mining Co. are competing for two mining companies in the eastern province of Shandong to boost their resources.
Zhongjin Gold plans to bid for Shandong Shengda Mining Co. and Shandong Tiancheng Mining Co., which are auctioning their assets, the company said today in a statement to the Shanghai stock exchange. Shandong Gold is seeking controlling stakes in both the companies, it said yesterday. Shares of Shandong Gold and Zhongjin Gold were suspended from trading.