First they took over GDO, "Gold One International" in December 2011. Today there is talk that they will takeover NGF "Norton Gold Fields". Also, in the last 2 months there was news about some ASX gold company operating in South America which was also taken over by the chinese. The article for this appeared in The Australia, but I can't remember either the country or the company name. 3 gold companies in almost as many months. They are just getting warmed up.
Are you talking about China or the USA? Sorry FB, but you took this thread about China buying up ASX gold mining companies, and took it off track with your political comment. Don't think that is quite kosher in the current environment of a no General Discussion environment.
But the amazing thing is, this is unfolding pretty much as a couple of resource investing authorities have said. Rick Rule, for one, said that this is what will happen. I just pray they don't manage to buy GOR (Gold Road), because we'll all be loosers. Yay!!! My company has been taken over, whoo hoo... and they will pay $0.05 per share extra, on the previous close price. Big deal.
They would not be doing this via the ASX i would think, this would be done via dark pools to somewhat hide large trades.
An article published today (9th April) in The Australian. http://www.theaustralian.com.au/bus...ain-golden-focus/story-e6frg9ex-1226321636318 China to maintain golden focus by: Robin Bromby. From:The Australian. April 09, 201212:00AM China's gold strategy is not music to the ears of the Perth Mint. Picture: Andy Tindall Source: The Australian IT was just the tip of the iceberg. We're talking about last week's move by Zijin Mining Group to launch a $299 million bid for Norton Gold Fields (NGF), which operates the Paddington goldmine near Kalgoorlie. There was some surprise expressed at this: while Chinese companies have been snapping up bulk and base metals projects around the world, it was generally thought they had little interest in picking up gold projects. Think again. A very reliable source close to several gold companies tells us Chinese interests are not only taking stakes in explorers and miners, they are also buying gold directly from producers and shipping it home. There is much talk in gold bug circles in the US that the recent purchase by the Bank of International Settlements of more than 4 tonnes of gold may have been wholly or in part on behalf of the People's Bank of China. Our source is quite clear on one thing: the move on NGF is just the beginning. China wants more gold and it doesn't want to pay full market price for it (as it doesn't for any mineral) so it will be looking to pick up more Australian gold producers and add the yellow metal to its existing central bank gold pile. Not something the Perth Mint will be happy to hear. Chinese interests took control last year at Laverton area goldminer A1 Minerals, now renamed Stone Resources (SHK) after its Hong Kong parent. That parent took an unsuccessful lunge also at Crescent Gold (CRE). Last year a Chinese consortium spent $US79m ($76.6m) on a 17.7 per cent holding in Gold One International (GDO). Chinese interests spent $80m to buy the controlling stake in Australian-owned Zara gold project in Eritrea and Yunnan Tin owns 12.3 per cent of YTC Resources (YTC), which is developing the Hera goldmine near Cobar in NSW. And Sovereign Gold (SOC), which featured here two weeks ago for uncovering long lost shafts on the Rocky River-Uralla goldfield in northern NSW, has subsequently signed up partner Jiangsu Geology & Engineering to pay $4m to buy 30 per cent of two tenements.
So... when will gold be declared a "strategic resource" and limits imposed on foreign ownership of Australian gold mines or direct export? Never.
A few people tried that here previously... A lease in WA inland from Geraldton, and there was another in Vic i think.