Gold One International (GDO.ASX) on Monday announced it has accepted a takeover offer from a Chinese consortium led by Baiyin Non-Ferrous Group in a deal that values the Africa-focused gold producer at about US$634 million, the Wall Street Journal reported. The deal will finance the Australian miner’s expansion plans and could lead to its listing on the Hong Kong stock exchange. Gold One said its board is recommending a cash offer of 55 Australian cents per share from a group led by Baiyin – a Chinese mining and smelting firm that is a unit of state-controlled Citic Group – which plans to buy a stake of between 60-75%. The offer comes after Gold One said it would significantly increase gold production and add uranium reserves through a US$750 million investment to acquire assets near Johannesburg. The consortium bought a nearly 18% stake in Gold One in April.