Acquisition of Norton Goldfield by Zijin Mining...

Acquisition of Norton Goldfield by Zijin Mining completed
(shareribs.com) Sydney / Hong Kong 08/07/2012 -

China's largest gold producer, Zijin Mining, has completed the acquisition of more than 50 percent of the Australian gold explorer Norton Gold Fields, the current media reports.

Zijin had already increased over the past year with the purchase of 138 million shares to 27.67 million Norton AUD his involvement in 16.98 percent of Norton. The last bid to take over for operating in Western Australia gold mining company was 229 million dollars, equivalent to 25 cents per share.
""" The plan now is to revive the gold mines of Norton at Mount Morgan, near Rockhampton, and the Boyne Valley, near Gladstone.

Furthermore, a new copper mine south west of Gladstone will be taken into operation."""

With the acquisition of Norton left four directors including the chairman and chief executive Tim Prowse Andre Labuschagne, the Executive Board. The new chairman is Chen Jinghe, which is since 2000 the chairman of Zijin Mining.

The stock of Norton can in afternoon trading on the Australian Stock Exchange by 0.75 per cent to 26.7 cents to win a new three-year high. Zijin is increasing in Hong Kong is currently at 3.1 percent to 2.68 HKD.