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China Gold Firms Pursue $1.5 Billion Indonesia Mine

  • Shandong Gold, China Gold weigh offers for EMR’s Martabe asset
  • Metal producers seek acquisitions amid rally in gold prices

Shandong Gold Group, one of biggest Chinese miners of the metal, is among firms considering bids for EMR Capital’s Indonesian gold and silver mine, people with knowledge of the matter said.

China Gold International Resources Corp. is also exploring a possible bid for the Martabe mine in North Sumatra province, according to the people, who asked not to be identified because the details are private. EMR Capital, a resources-focused private equity firm, is weighing options including a sale of the asset, which could fetch as much as $1.5 billion, the people said.