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By Shane Lasley
Mining News 

China's SD Gold cuts deal to buy Hope Bay

To acquire full ownership of TMAC resources for $149 million North of 60 Mining News – May 8, 2020


Last updated 9/26/2020 at 2:22pm

TMAC Resource Shandong SD Gold Mining Hope Bay gold mine Nunavut Canada

TMAC Resources Inc.

Over the past three decades more than $1 billion has been invested in exploration and evaluation, surface infrastructure, and development at the Hope Bay gold project in Nunavut.

The Hope Bay gold mine will come under Chinese ownership with the finalization of a deal that would see Shandong Gold Mining Co. Ltd. buy full ownership of TMAC Resources Inc., the current owner and operator of the gold operation in the Kitikmeot region of northwest Nunavut.

Under a definitive agreement announced on May 8, Shandong Gold Mining (HongKong) Co., an overseas subsidiary of the state...

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