zijin looking for more gold opport. post-ngf

Private company Zijin Mining recently declared its $230 million takeover of Norton Goldfields unconditional, with Zijin chairman Chen Jinghe saying the company would look to add to its resources in the West Australian goldfields to reduce costs at Norton’s operations.

“The Australian mining industry is the best in the world and has a lot of good experience for the Chinese mining industry, and we are happy to learn from the Australian mining industry,” Mr Chen said. “Norton will provide a snapshot or window for Zijin to learn about Australian mining and technology.”

Investment criteria for Chinese SOEs also appears to have been tightened in response to concerns about rising Chinese debt.

http://www.afr.com/p/business/companies/stakeholders_view_china_investment_nc4PFA3eKqcnQmH2l5MP0L