Latest News:  
Beijing   Sunny    6 / -6   City Forecast

People's Daily Online>>China Business

CNGGC to acquire stake in Xinjiang gold company


13:43, February 28, 2012

BEIJING, Feb. 28 (Xinhua) -- The China National Gold Group Corp. (CNGGC) said Tuesday that it plans to pay 108.5 million yuan (16.79 million U.S. dollars) for a 51-percent stake in a Xinjiang-based gold company.

The deal will give the country's largest gold producer access to a gold mine in Toli county in northwest China's Xinjiang Uygur autonomous region, according to a statement filed to the Shanghai Stock Exchange.

The mine is estimated to contain over 9,600 kg of gold, the statement said.

The mine is worth 154.62 million yuan, the China United Assets Appraisal Group said in an assessment report.

Shares of the company slid 1.69 percent to close at 23.31 yuan during Tuesday's morning trading.


Related Reading

  1. China Gold looks overseas

Leave your comment0 comments

  1. Name


Selections for you

  1. Leaders join tea party for ethnic NPC deputies, CPPCC members

  2. China's skater Fan retains women's 500m world title

  3. Candlelight vigil held to mark Japanese quake

  4. French artist holds exhibition in Beijing

Most Popular


  1. NPC reform reflects vote of confidence
  2. Facing problems forges confidence for development
  3. Defense budget guards peaceful intentions
  4. Will China's economy keep growing or slow down?
  5. Chinese products bring benefits to U.S. consumers
  6. Is international 'hot money' flowing into China?
  7. China's economy to roar ahead amid global woes
  8. U.S. solution to Syria issue doomed to failure
  9. Trust key to stability on Korean Peninsula
  10. Public will increasingly swaying diplomatic policies

What's happening in China

Students may get sporting chance

  1. Smokers may be singed by tax hikes
  2. Missing geologists in Kekexili still unfound
  3. Xisha Islands tourism to be developed
  4. Tourism resort seeks credibility after scandal
  5. Road rage killer sparks public fury

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai