With this transaction, Zijin Mining will hold the Lixian gold project in China.
DMG’s share of the consideration will be about $150m, which will allow the firm to actively pursue other investment opportunities in the resources industry.
The transaction is expected to be completed in January 2012, subject to approval of the shareholders, Australian regulatory authorities and the Chinese government.
DMG’s chairman Robert Gardner said that on completion of the sale, the firm will have a very strong cash position.
