China Gold hunting for deals worth $2 billion

Bloomberg

China Gold International Resources Corp, the overseas arm of state-owned China National Gold Group, is on the hunt for acquisitions to replenish its pipeline as deal-making in the sector heats up thanks to a jump in the metal’s price.
“We need more pipeline, especially in gold production,” Jerry Xie, executive vice president, said in an interview on the sidelines of the Denver Gold Forum.
“We’re currently looking for acquisition opportunities quite aggressively. We’re doing this on behalf of our parent company, not just for ourselves.”
The miner, listed both in Canada and Hong Kong, is targeting companies with assets in operational stages that have ramp-up plans.
The company is comfortable making purchases with a price tag at roughly $1 billion to $2 billion, Xie said.