Canadian Eldorado acquires Australian Sino gold

• Source: Caijing.com.cn
• [13:53 August 28 2009]
• Comments

Canadian gold producer Eldorado Gold Corp. has reached an agreement to acquire rival Sino Gold Mining Ltd., as it seeks to obtain the Australian company's valuable China-based assets. 

Sino Gold's board has agreed to the C$2 billion stock for stock deal, Eldorado said on Aug. 26. 

The two companies each have controlling stakes in China's main gold mining companies. Foreign exploitation in some of China's largest gold mines has drawn criticism from those who regard the country's gold reserves as state-owned property.