China firm makes cheaper fresh bid for Aussie miner PanAust

Sydney

CHINA'S Guangdong Rising Assets Management launched a fresh US$850 million bid to buy copper and gold miner PanAust Ltd, but priced its offer at a quarter less than 10 months ago, underscoring the rout in mineral commodities.

Analysts said the renewed bid demonstrated an ongoing appetite among Asian enterprises to take full ownership of Australian-listed assets, rather than buy into passive partnership roles.