Chinese company in talks to buy large gold mine in Indonesia

Section:

By Julie Steinberg and P.R. Venkat
The Wall Street Journal
Friday, June 1, 2018

A Chinese mining-exploration company is in advanced discussions to acquire an Indonesian gold and silver mine for around $1.5 billion, according to people familiar with the matter.

Pengxin International Mining Co.'s deal for the Martabe gold mine, one of Indonesia's largest, hasn't been finalized, but a $1.5 billion price tag would represent a doubling in its value from two years ago.

... Dispatch continues below ...



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Shares of Pengxin, which is listed in Shanghai, have been suspended from trading since mid-April pending a "major asset restructuring," according to a regulatory filing. The Shanghai-based company disclosed on May 22 plans to take over a company that owns the Indonesian mine, without providing financial details. ...

... For the remainder of the report:

https://www.wsj.com/articles/chinese-company-in-talks-to-buy-one-of-indo...

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