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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (2815)11/8/2013 8:13:56 AM
From: Goose94Read Replies (3) of 203330
 
Ivanhoe Mines (IVN-T)
The Financial Post reports in its Friday edition that an unnamed source says China National Gold Group is considering investing in mines owned by Robert Friedland's Ivanhoe Mines, including the Platreef project in South Africa. A Bloomberg dispatch to the Post reports that China's largest gold producer, according to the source, values the Platreef platinum and copper mine at about $1-billion. State-owned China National Gold has also looked at other Ivanhoe projects located in the Democratic Republic of Congo and Gabon, though it prefers more developed countries like South Africa, says the source. China National Gold, which ended talks in January to acquire Barrick Gold's African unit for about $2.3-billion, is also exploring opportunities to buy gold and copper assets in Canada and Australia, says the source. Bloomberg says Chinese metal producers are seeking to take advantage of commodity price declines to buy assets overseas. It says the biggest global mining companies are selling their higher-cost projects and writing down asset values after almost $1-trillion of acquisitions in the sector over the past decade. Ivanhoe owns 90 per cent of the Platreef mine, located 280 kilometres northeast of Johannesburg.
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