CNGG seeks more mines

China National Gold Group Corp (CNGG), the country's second largest gold producer, will transfer several gold mines as assets to its Canadian subsidiary Jinshan Gold Mines this year and acquire more mining assets abroad through Jinshan.

Song Xin, vice-president of CNGG, told China Daily yesterday that the company was in talks to buy several gold mines overseas, but declined to give details.

"Our target investment destinations include neighbors such as Russia and Mongolia, as well as North America, Australia and Africa," said Song. "Jinshan will serve as an overseas investment platform, because as a company listed on the Toronto stock exchange, it has easier access to foreign investors and mining assets."