Zijin eyes acquisitions amid depressed mining shares

Zijin Mining aims to complete one or two acquisitions this year and warned that the unit production cost at its mainstay gold mine will continue to rise owing to the deteriorating grade of ore.

Fujian province-based Zijin, the mainland's largest gold producer, sees acquisition opportunities arising as stock market valuations of firms in the industry remain depressed.

"Many gold miners' shares have tumbled more than 50 per cent in the past two years although the gold price has not changed much," said Zijin chairman Chen Jinghe.

via Business feed http://www.scmp.com/business/commodities/article/1202186/zijin-eyes-acquisitions-amid-depressed-mining-shares