By: Staff Writer
Chinese mining company Yintai Gold has emerged as the foreign entity that persuaded Osino Resources to abandon Dundee Precious Metals’ N$4 billion takeover offer in favour of its superior N$5.2 billion cash acquisition.
Yintai Gold’s acquisition marks another significant Chinese presence in Namibia’s natural resources sector, joining Beifang at Rössing Uranium, Xinfeng’s lithium interests, and Chinese-invested Swakop Uranium.
Under the agreement, Osino Resources, based in Canada, will retain only its gold-related assets in Namibia, primarily the Twin Hills Gold Project in central Namibia, along with exploration projects Ondundu and Eureka.
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