China is continuing its trend of buying up Australian gold assets, purchasing St Barbara's Southern Cross mine in the WA goldfields.
It follows the sale of several other WA mines to Chinese companies over the past six months.
St Barbara halted operations at the mine in the December quarter, which analysts believe was because the mine was running at a loss.
It says the sale to Hanking Gold Mining is worth $22.5 million.
Business commentator, Tim Treadgold says he would not be surprised if China continues to buy up.
"I think you can now see between five and six Australian gold assets either in Australia or owned by Australian companies overseas being transferred to Chinese interests," he said.
"It's all part of a plan within China to boost it's gold exposure either directly through purchasing metal on the market or by investing in gold mining companies."