Chifeng Jilong Gold Mining, an international gold mining company listed on the Shanghai Stock Exchange, agreed to acquire the Bibiani Gold Mine, a historically significant Ghanaian gold mine situated in the western region of the country, from Resolute Mining, an Australia-based gold miner, for $105m. "We are delighted to have secured such a significant gold mining asset in the current market. Resolute has defined an exciting future for Bibiani as a high margin, long life underground gold mining operation. Chifeng will immediately invest the required capital, and provide the necessary expertise, to recommission Bibiani as an operating gold mine in the shortest possible timeframe," Wang Jianhua, Chifeng Executive Chairman.