Vancouver-based company Pretium Resources has signed a massive $81-million deal with Zijin Mining Group, which is China’s largest gold produce, second largest copper producer, and also mines sinc, tungsten and iron ore.
The venture will allow B.C. gold mine developer to fund its high-grade, underground Brucejack gold project in northwestern B.C. and give the Chinese miner a 9.9 per cent stake, or 12,836,826 common shares of Pretium at $6.30 through a private placement, in the Canadian company. Zijin also has a market capitalization of more than $9 billion. CJ