中國企業非洲擴大金礦業務遇良機

The fallout from a costly copper deal in Africa last year by Canada's Barrick Gold Corp. is giving China a chance to strengthen its gold mining footprint in the continent.

加拿大巴里克黃金公司(Barrick Gold Corp)去年在非洲的一宗鉅額銅礦交易令其背上了沉重的負擔，但這卻將給中國提供了一個加強在非洲大陸黃金開採業務的機會。

Barrick said Thursday it is in talks to sell all or part of its Tanzania-focused gold operation, African Barrick Gold PLC for as much as $3.9 billion to China National Gold Group Corp., a state-owned miner and refiner.

加拿大巴里克週四說，該公司正在與國有采礦及精煉企業中國黃金集團公司(China National Gold Group Corp.)進行談判，向後者出售其主要位於坦桑尼亞的非洲巴里克黃金公司的全部或部分業務，合同金額最高可達39億美元。

The deal is meant to raise cash, after Barrick found itself saddled with an Africa copper operation that it bought in 2011, a deal that looks pricey in retrospect, with Barrick's investors clamoring for better returns and a more disciplined financial approach. New chief executive Jamie Sokalsky, appointed in June after the resignation of Aaron Regent, is demonstrating his resolve and the rigor of a former chief financial officer by putting up one of the company's most valuable assets for sale.

這一交易意在籌集現金，因爲此前巴里克發現2011年收購的一項非洲銅礦業務給自己帶來了沉重負擔，巴里克的投資者紛紛要求獲得更高的回報，同時要求公司在財務支出上更加規範。現在看來，當時的那宗銅礦交易代價太高了。該公司新任首席執行長索卡爾斯基(Jamie Sokalsky)將展示自己的決心和作爲前首席財務長的嚴厲作風，將該公司最有價值的資產之一掛牌出售。今年6月，在前首席執行長瑞金特(Aaron Regent)辭職後，索卡爾斯基接替了他的職務。

Mr. Regent's sudden departure in June was seen as a response to the copper deal turning sour, as investors bemoaned that the move away from being a pure play on gold was weakening Barrick's valuation. Copper prices have plunged 20% since that deal was struck.

瑞金特今年6月突然離職，外界認爲他是因銅礦交易表現不及預期而引咎辭職。投資者不滿地說，脫離純粹的金礦業務正在削弱巴里克的估值。自上述銅礦交易達成以來，銅價已經累計跌了20%。

Barrick, the world's largest gold producer, got into trouble in Africa when it went head to head against the Chinese in a bidding war over Equinox Minerals Ltd., in April 2011, a Canadian miner with big copper mines in Africa. State-backed Minmetals Resources Ltd. stepped away from that deal, despite its deep government pockets, leaving Barrick to fork out 7.3 billion Canadian dollars for the Zambia-focused copper producer. Barrick's bid was 16% richer than Minmetals's offer.

巴里克是全球最大的黃金生產商。2011年4月，該公司在競購在非洲擁有大型銅礦的加拿大銅礦企業伊奎諾克斯礦業公司(Equinox Minerals Ltd.)的大戰中與一家中國企業短兵相接，那之後就在非洲陷入了困境。有政府背景的五礦資源有限公司(Minmetals Resources Ltd.)儘管有着雄厚政府資金的支持，卻退出了競購。巴里克於是斥資73億加元收購了這家業務主要集中在贊比亞的銅礦企業。巴里克的出價比五礦資源高出了16%。

Minmetals's Chief Executive Andrew Michelmore told The Wall Street Journal later in an interview: 'We were very disappointed we lost Equinox, but we'd be shooting ourselves in the foot now if we had paid that much.'

五礦資源首席執行長米安卓(Andrew Michelmore)後來在接受《華爾街日報》採訪時說，我們當時對沒能競購成功很失望，但如果當時真出了那麼多錢買下伊奎諾克斯，那現在我們的結果就是搬起石頭砸自己的腳。

The interest in Barrick's Africa gold operations come after a flurry of gold deals in Australia, as cash-rich miners seek consolidation in the sector. Anglo American PLC is about to announce a tie-up with Australian gold explorer Beadell Resources, Deal Journal Australia reported this month.

隨着資金雄厚的礦業公司尋求在採礦行業進行整合，各大企業在澳大利亞達成了一系列金礦交易後，對巴里克在非洲的金礦業務又產生了興趣。Deal Journal Australia 欄目本月報道說，英美資源集團(Anglo American PLC)將宣佈與澳大利亞黃金勘探企業Beadell Resources進行合作。

Another Chinese miner, Zijin Mining Group Co., closed a deal to buy a majority stake Australia's Norton Gold Fields this month, after making an offer of A$180.3 million ($190 million) in May.

另外一家中國礦業公司紫金礦業集團股份有限公司(Zijin Mining Group Co.)本月與澳大利亞諾頓金田有限公司(Norton Gold Fields)就收購後者的多數股權達成了一項交易。此前這家中國公司在今年5月發出了1.803億澳元（合1.90億美元）的收購要約。