China's Zijin Mining to buy Canada's Continental Gold for $1 billion

BEIJING (Reuters) - Zijin Mining Group Co Ltd , one of China's biggest gold miners, has agreed to buy Canadian miner Continental Gold Inc for C$1.33 billion (£779.36 million), saying the purchase would increase its gold reserves and boost cash flow as well as profit.Zijin will pay C$5.50 per share in cash for Continental, a premium of about 13% to the Canadian company's closing price on Friday, as it aims to secure Continental Gold's flagship Buritica gold project, the Chinese company said in..