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Eldorado to Exit China With $600 Million Sale; Shares Gain

  • Company says it will use the proceeds to grow its business
  • Mackie’s Allan says price was better than he expected
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Eldorado Gold Corp., the largest foreign producer of gold in China, agreed to sell its remaining assets in the country for $600 million to focus on developing mines in Europe.

The Vancouver-based company will sell its interests in the White Mountain and Tanjianshan mines and the Eastern Dragon project to Yintai Resources Co. in a cash deal expected to close in the second half, it said Monday in a statement.