Zijin Mining purchased 1.162 billion yuan of African copper-cobalt mine

Xinhua Beijing on May 8 Xinhua Zijin Mining (601 899) 8 announcement, the firm with the Africa Development Fund Co., Ltd. jointly established the project company, invested 284 million U.S. dollars (about 1.937 billion yuan) acquisition of Copperbelt Minerals Limited indirectly holds the Congo (DRC) Deziwa copper and cobalt mining projects and Ecaille C copper cobalt project. Africa Fund, the holding company and joint venture 60% and 40% of the shares, which invested 170 million U.S. dollars Zijin Mining (about 1.162 billion yuan). Set up joint venture will acquire a wholly-owned subsidiary of Zijin Mining 100% of the shares of Golden Delicious, Golden Delicious mining the specific implementation of the acquisition.

The acquisition is the subject for the Copper-belt held Platmin entire issued share capital and the Copperbelt 261 million accounts receivable within the Group. Platmin through its main assets registered in the Congo (DRC), a wholly owned subsidiary of Platmin Congo holds 68% stake SOMIDEC. The remaining 32% owned by the Congo (DRC) held the national mining company, the stake is not diluted.

SOMIDEC major asset for the project has Deziwa copper and cobalt mining cobalt ore copper Ecaille C 100% interest in the project.