What if China Acquires Chalice Gold Mines in Eritrea?

Chalice's Takeover by China will be good for Eritrea and the other mining companies operating there: Grandich

By TesfaNews,

Ever since the announcement made by Chalice Gold Mines about the signing of a non-binding letter of intent to sell its 60% stake in the Zara gold project Eritrea, rumors started to run fast in the capital markets to find out who could be that lucky counterpart since Chalice did not disclose the name of the potential acquirer.

The first suspect was Canadian Miner Nevsun Resources who owns and develops the highly profitable Bisha gold mine in Eritrea. This is because a couple of months back, the company announced that it was looking to buy advanced-stage copper-gold projects that had some kind of economic assessment, either a PEA (preliminary economic assessment) or greater, which Chalice fits well with all those conditions, in the Americas, Europe or Africa. Continue reading