Eldorado Gold Corporation (TSX:ELD) has sold its 82% interest in the Jinfeng mine to China National Gold for US$300mln in cash.
“China National Gold has been our minority partner at Jinfeng for over fourteen years and is the logical buyer as the operation transitions fully into the underground," said Paul Wright, Eldorado Gold’s chief executive.
Eldorado added it had been evaluating the merits of potentially monetising its Chinese assets for a while and been in discussions with various parties over its other operations.
The miner has three gold mines in China (Jinfeng, Tanjianshan and White Mountain) that combined produced 325,000 ounces in 2015.