Glencore’s Kazakh mine sale said to attract Shandong, Zhongjin

June 9, 2016

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Chinese gold producers Shandong Gold Mining Co. and Zhongjin Gold Corp. are among potential bidders for Glencore’s gold mine in Kazakhstan, according to people familiar with the matter. Glencore may be seeking about $2-billion for the asset, the people said, asking not to be named because the deliberations are private. Zijin Mining Group Co., one of China’s largest gold producers, is also potentially interested in the Vasilkovskoye mine, which Glencore put on the block earlier this year, the people said. No final agreements have been reached and Glencore may decide to retain the mine, they said.

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