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Hanking Gold Mining has increased the Southern Cross gold mine's JORC resource to 4.6 million ounces since purchasing it in 2013. Photo: Hanking Gold Mining

Southern Cross mine sold for $330m

Chinese conglomerate Shandong Tyan Home has acquired its second gold mine in Western Australia, reaching an agreement to buy the Southern Cross Gold operation in the Yilgarn for $330 million.

Southern Cross owner Hanking Gold Mining today announced it had struck a binding agreement to sell the mine to Shandong Tianye Group Bid Co Pty Ltd, a private company owned by Shandong Tyan Home founder Zhaoqin Zeng.

The Southern Cross mine has been producing around 130,000 ounces each year since it was restarted early in 2015, following Hanking’s purchase of the facility in 2013.

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Annual production

13th↓Independence Group134
14th-Silver Lake Resources131
15th-Hanking Gold Mining130
16th↑Ramelius Resources111
17th↑Millennium Minerals96
26 gold miners ranked by annual production to june 30, 2016 ('000 ounces)

Number of Employees

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