China to acquire S Africa gold mining firms

By Yang Xi
0 CommentsPrint E-mail China.org.cn, June 2, 2011
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China to acquire S Africa gold mining firms 兩家中國公司擬1億美元收購南非兩座金礦

Aurora Empowerment Systems (AES), based in South Africa, is in negotiations for its gold mining companies to be acquired by two Chinese firms, said Enver Motala on Tuesday, representing Aurora Empowerment Systems. The negotiation is transparent and open to the public, in accordance with South African laws, Economic Information Daily reported Thursday.

The two Chinese enterprises have been planning to pay 100 million dollars to acquire 65 percent shares of AES' two gold mining companies, located in northeast South Africa.

Solidarity, the largest independent trade union in South Africa, has questioned the legality of the acquisition, saying that AES failed to obey South African laws during the bidding process for the deal. But Enver Motala has denied the accusation.

AES's two gold mining companies have reported heavy losses in recent years due to poor management, and more than 4,000 employees have been laid off. AES has been actively looking for cooperation with foreign companies to save its subsidiaries.

經濟參考報x消息稱,南非極光控股有限公司代表恩維爾?穆塔拉當地時間5月31日說,公司正在與兩家中國礦業公司就收購金礦事宜進行談判,談判過程透明、公開,按規范程序進行,符合南非相關法律。

中國兩家礦業公司計劃以1億美元收購極光旗下兩座金礦65%的股份。這兩座金礦位于南非東北部。

此前南非團結工會曾對這一收購過程合法性提出質疑。該公會認為,南非極光在招標過程中沒有按照南非法律規定的程序進行。但穆塔拉當天否認了這一說法。

由于經營不善,交易涉及的兩座金礦近年來出現嚴重虧損,近4000名礦工面臨失業。為此,南非極光積極尋求外資合作,以挽救金礦的命運。

China's business press carried the story above on Thursday.

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