China's Zijin Mining to buy Guyana Goldfields for $238m

China's Zijin Mining to buy Guyana Goldfields for $238m

Photo: Pixabay

China’s Zijin Mining said on Friday it would acquire Guyana Goldfields for C$323 million ($238 million), bringing an end to a protracted takeover battle for the Canada-listed gold miner.

Toronto-based Guyana Goldfields announced on June 3 that it had received a binding proposal from an unnamed overseas-based miner to acquire the company, valuing it around 35% higher than a previously accepted offer from Silvercorp Metals.

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