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Previous reports said that Zijin Mining, one of the largest gold producers in China, would invest in gold and copper mines of the Philippines this year, involving USD 1 billion.
In addition to the Philippines, the company is also keeping a close eye to projects in other overseas areas. It is in discussion about some overseas project this year, added the chairman, who declined to tell the details.
It is reported to spend CNY 140 million buying over 21.1215 million common shares of its Canadian peer Continental Minerals Corporation (TSXV: KMK).
Earlier, the chairman told that Zijin Mining had a plan to invest in both Central Asia and Australia, and this year, it would focus its attention on mineral resources in Africa.
Source: www.163.com (October 21, 2009)
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