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Chinese firm offers to buy South Africa gold miner Village for US$56m

[JOHANNESBURG] Unlisted Chinese asset manager Heaven-Sent has offered to buy junior South African gold producer Village Main Reef, the companies said on Wednesday, in a deal that values the target at 637 million rand (US$56 million).

The offer is for 12.25 rand per share, a 14.5 per cent premium on the company's closing price on Tuesday.

Chinese investment directly into the South African precious metals space remains relatively rare.