Zhaojin Mining eyes acquisitions
19 August 2008
Gold miner Zhaojin Mining is considering acquisitions to increase its assets, the South China Morning Post reported. Lu Dongshan, the company's chairman, said that Zhaojin expects to purchase one or two projects from among 20 potential targets in the second half of the year. He did not provide details as to the specific targets, but said they could boost Zhaojin's gold resources. Shandong-based Zhaojin added 31 tons of gold resources through acquisitions in the first half of the year, mostly in Xinjiang and Heilongjiang provinces. On Sunday, the company announced lower-than-expected 34.6% earnings growth in first-half profit, to US$31.1 million.