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China Failed Mining Deals Top $45 Billion on Hanlong Bungle

Sichuan Hanlong Group’s botched $1.2 billion bid for Australia’s Sundance Resources Ltd. brings the value of China’s recent failed mining deals to $45 billion, a record that’s prompted stricter Chinese scrutiny of acquisitions.

Chinese companies attempted $107 billion worth of mining takeovers over the past five years, with about $45 billion, or 42 percent by value, of deals ending in failure. Of $562 billion of deals proposed globally in the same period, $180 billion, or 32 percent, didn’t proceed, according to data compiled by Bloomberg.