Baiyin Non-Ferrous Metal Group Co. bought 17.7 percent of Gold...

Baiyin Non-Ferrous Metal Group Co. bought 17.7 percent of Gold One?s shares at a 20 percent premium to yesterday?s share price in Sydney

Baiyin Nonferrous Metals Corporation (BNMC)

"is planning a listing on the Shanghai stock exchange this year, in a bid to invest in overseas mining resources."

It has privately collected 3 billion yuan ($457 million) in capital from local mining companies in the Tibet autonomous region and Shaanxi and Gansu provinces in a pre-IPO share sale, Li Peixing, chairman of BNMC, told China Daily on the sidelines of the ongoing Chinese People?s Political Consultative Conference meeting.