A major Chinese gold producer is scouting for acquisition opportunities around the world, although the recent price volatility driven by global trade turmoil means it’s not rushing to secure deals.
“There are so many projects on the market that owners are willing to sell,” Lydia Yang, chief executive officer of Chifeng Jilong Gold Mining Co., said in an online interview Thursday from Beijing. She noted there seemed to be more takeover opportunities this year than previously.
Known as Chifeng Gold, the miner has been rapidly expanding production both at home and overseas and is the nation’s largest producer that’s not state owned. Combined annual output of the precious metal from its five mines in China and one apiece in Ghana — bought in 2021 — and Laos has surged from around 2 tons in 2019 to 15.2 tons last year.
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