China s Shandong Yulong Gold to buy Australia s Barto for $188 million in debt Reuters 5/03/2021
(Reuters) - Shandong Yulong Gold Co said on Friday it had agreed to acquire Australian gold miner Barto Industry Co from fellow Chinese firm Shandong Tianye by assuming the target company s debt of 1.22 billion yuan ($188 million).
Shandong Yulong Gold, which used to make steel pipes before changing its name and business focus, said in a statement to the Shanghai Stock Exchange its Lanjing Mining subsidiary would acquire 100% of Barto and control its gold mining operations in Western Australia.
The deal still requires a number of approvals, including from Australia s Foreign Investment Review Board, the filing said. Developed gold-rich countries such as Australia and Canada have increased their scrutiny of transactions made by acquisitive Chinese firms over the past year.
Unions call for Frydenberg to block CFS sale ifa.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ifa.com.au Daily Mail and Mail on Sunday newspapers.
Black Rock (ASX:BKT) share price falls on FIRB outcome
Aaron Teboneras | March 4, 2021 4:47pm |
More on:
The
Black Rock Mining Ltd(ASX: BKT) share price has fallen in late afternoon trade. This comes after the company received news from the Commonwealth Treasurer on the POSCO equity investment. At the time of writing, the graphite developer’s shares are down to 14 cents.
Established in 2000, Black Rock is an Australian mining company focused on developing its Mahenge Graphite Project in Tanzania. It is known to be the world’s fourth-largest graphite resource. Thus, indicating huge potential for the future. Indeed, demand for graphite has grown considerably and is expected to double in the next decade. This is due to the strong adoption by consumers for batteries in electric vehicles and other emerging applications.
The union peak body has urged the Treasurer to block the sale of a controlling stake in CBA’s superannuation business, with fears the transaction will set a troubling precedent for sector. The Austr