Tag: Shandong Gold

Australia Allows Chinese Purchase of Gold Miner While Canada Says ‘No’

China’s second-largest state-owned gold mining company Shandong Gold has won a bidding war to gain control of Australian gold miner Cardinal Resources. This comes after Five Eyes’ partner Canada blocked Shandong from acquiring a local mine in the strategically important Arctic Circle. Over a seven-month period, the state-owned Shandong Gold vied mainly with Russian firm…


Ottawa Rejects Chinese Company’s Takeover of Nunavut Gold Mine Over Security Concerns

The Federal government has rejected a Chinese state-controlled mining company’s planned takeover of Canada’s TMAC Resources, after conducting a review of the potential security risks. Toronto-based TMAC Resources Inc. says Ottawa has turned down its deal to be bought by China’s Shandong Gold Mining Co. Ltd. following a review under the Investment Canada Act. TMAC…