Chinova Resources, a unit of Shanxi Donghui Energy Group, has put its Australian copper-gold operations up for sale and hopes to have the deal done this year, a director at adviser BurnVoir Corporate Finance, which is handling the sale, said on Tuesday. The operations in Queensland state include the Osborne copper gold processing plant, Mount Elliot mine, infrastructure including an airport, roads and a power plant and a number of development sites. The mine is near the town of Cloncurry, 660 km (410 miles) west of the port of Townsville.
MELBOURNE - Chinova Resources, a unit of Shanxi Donghui Energy Group, has put its Australian copper-gold operations up for sale and hopes to have the deal done this year, a director at adviser BurnVoir Corporate Finance, which is handling the sale, said on Tuesday.
"The Chinova package has had good interest from large, established, international miners as well as ASX-listed junior to mid-cap mining companies looking for a relatively large acquisition to propel them onto the radar of institutional investors," executive director"We would be expecting that it would be north of A$300-million," he toldShanxi Donghui Energy Group bought the mine from Ivanhoe Australia in 2013.
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