Loading ...Barrick Gold’s (TSX, NYSE:ABX) planned $1.3 billion sale of its stake in Australia’s Kalgoorlie mine has hit a roadblock as Minjar Gold, the Chinese bidder, has been unable to secure financing for the deal.
The Perth-based, a unit of Shanghai-listed Shandong Tyan Home, is also still waiting for Chinese regulatory clearance to go ahead with the acquisition, people with knowledge of the matter told Bloomberg.
Minjar Gold has been on the hunt for Australian mines for over a year. In August it purchased Evolution Mining’s (ASX:CAH) Pajingo mine for $40 million — a deal that looks like small change in comparison to the offer on the table for Kalgoorlie.
cont. http://www.mining.com/chinese-race-to-grab-barricks-stake-in-super-pit-hits-roadblock/