18 June 2013
Chinese energy company Shandong has raised funds to buy a subsidiary of Australian gold miner Stonewall Resources.
Shandong had raised $US300 million ($A315.66 million) to acquire Stonewall Mining, Stonewall Resources said on Tuesday.
The Chinese firm is buying two South African gold mines, expanding existing projects and providing working capital.
Stonewall Resources chief executive Lloyd Birrell said Shandong’s capital raising showed it valued Stonewall Mining’s projects and were interested in lifting gold production.
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Chinese firm buys gold miner Stonewall
