Gold One gets approval for Jintu deal

Gold One International on Wednesday announced that the Chinese government has approved itsprice for crusher precision engineers Jintu transaction, which will see a Chinese consortium become a strategic shareholder in its company.

The consortium - which is made up of China's biggest state-owned investment company, the Citic Group, which is involved through the Baiyin Non-Ferrous Group and China Development Bank through its China-Africa Development Fund, as well as Long March Capital - has informed the company that it has received approval to proceed with the transaction from the National Development and Reform Commission of the People's Republic of China, one of the key Chinese government approvals required by the consortium and a major condition precedent to completion of the transaction. Approvals by the Ministry of Commerce and subsequently, the State Administration for Foreign Exchange are believed to be on track. “I am very pleased that we have reached another...