Chinese miners on hunt as gold price retreats

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CHINA is apparently growing more interested in Australian gold assets as prices slide. Aphrodite Gold, which like most junior miners is being forced to seek funds outside troubled equity markets, is in talks with Shandong Gold and other Chinese parties to sell up to a 50 per cent stake in the Aphrodite project, 65km north of Kalgoorlie.

Shandong last year bought a 49 per cent stake in Focus Minerals, which operates in the nearby town of Coolgardie, and the Chinese miner is considered a potential buyer of Alacer Gold’s Australian assets, which went on the block yesterday.

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