China National Gold Group Corp, owner of China's third-largest gold mining company, is the preferred bidder to develop the country's largest deposit, beating Zijin Mining Group Co, a company official said.
Zijin Mining Group Co, China's largest gold producer, may raise as much as 10 billion yuan (US$1.43 billion) in a Shanghai initial public offering to fund acquisitions and projects.
Zijin Mining Group Co may raise up to US$1.54 billion in its Shanghai share sale next week as the leading Chinese gold producer announced the initial public offering procedure yesterday.