China’s Chifeng Jilong Gold Mining on Monday cancelled an agreement to buy the Bibiani gold mine in Ghana, saying it had not received timely information from the seller about the termination of the mining lease.

Australia-based Resolute Mining agreed to sell Bibiani to Chifeng Jilong for around 105 million dollars in December, apparently extending a flurry of Chinese M&A in the gold mining sector.

The company announce last month that its lease had been terminated by the Ghanaian government however the lease was restored last week under terms that did not recognise the sale.

The deal would have marked Chifeng Jilong’s second overseas acquisition, after it bought a 90% stake in the Sepon gold and copper mine in Laos in 2018.

The company said the cancellation of the Bibiani deal would not adversely affect its overall business development and operations.