CHINA'S Zhongrun Resources Investment has come to the rescue of Perth gold company Noble Mineral Resources, offering between $84.7 million and $140m to take a potential controlling stake, help Noble pay back loans and let the miner get its Bibiani gold project in Ghana back on track.
Zhongrun Resources Takes 42% Stake in Noble Mineral
Zhongrun Resources Investment Corp (SHE: 000506) said it agreed to pay $88 million for 42% of Noble Mineral Resources, an Australian gold miner. Zhongrun Resources also has the privilege to increase its stake in Noble Mineral Resources to 51.6%. Chinese resources firms are seeking acquisitions overseas to meet growing domestic demand for gold.