Chinese Gold Miners Continue To Gobble Up Gold Companies Chinese Gold Miners Continue To Gobble Up Gold Companies Tyler Durden Mon, 06|22|2020 - 21:30 Authored by Lawrence Thomas via GoldTelegraph.com, Chinese gold companies continue to pursue and acquire mining companies aggressively. The Buyouts: Continental Gold Inc. was acquired for C$1.3 billion in early March by Zijin Mining Group Co. The company’s asset, the Buriticá Project, is the most advanced underground gold mining operation in Colombia. Buriticá is one of the world’s largest high-grade gold projects, with production scheduled to begin in 2020. Mineral reserves are estimated to be 3.7 million ounces of gold with 8.4 g|t of gold (13.7 million tons). TMAC Resources entered into an agreement in early May with one of China’s biggest gold producers, Shandong Gold Mining, to sell the company for C$230 million. TMAC’s Hope Bay Property is a high-grade gold district with established Measured and Indicated Mineral Resources totaling approximately 5.17 million ounces of gold at an average grade of 7.4 g|t Au and Inferred Mineral Resources totaling approximately 2.13 million ounces of gold at an average grade of 6.1 g|t Au.