Chinese gold company Chifeng Gold is looking for acquisition opportunities worldwide but is being cautious due to recent price fluctuations.
The company has grown rapidly, increasing its gold output from 2 tons in 2019 to 15.2 tons in 2023 through mines in China, Ghana, and Laos.
After raising $361 million in its Hong Kong listing in March (which saw shares jump 80%), the company is well-positioned for acquisitions.
However, with gold prices recently dropping 8% from record highs, CEO Lydia Yang says they’re taking a careful approach to deals until market conditions stabilize.