vested
Zijin Mining plans DunAn splurge
Zijin Mining Group (2899) has proposed acquiring four assets held by DunAn Group for 7.68 billion yuan (HK$9.12 billion).
It said in a filing yesterday that it will buy a full stake in Zhejiang Jinshi Mining, which owns a 70 percent interest in Lakkor Tso Salt Lake Lithium Mine Project in Gerze County, Ngari, Tibet for 4.9 billion yuan from DunAn.
The mine is one of the few large-scale and high-quality lithium salt lake deposits in China, with large recoverable resources, a low magnesium-to-lithium ratio and relatively good quality, Zijin said.
It will also spend 710 million yuan on equity interests of some Rushan series enterprises held by DunAn and its subsidiaries, and 1.4 billion yuan on acquiring 260 million A shares of Anhui Jiangnan Chemical Industry, the filing showed.
The miner plans to purchase 89 million A shares of Zhejiang DunAn Artificial Environment held by DunAn for 652 million yuan as well. The total amount represented 10.81 percent of its net assets in 2021 and the fund for the acquisition will be self-financed, the firm said.
Source: The Standard
https://www.thestandard.com.hk/section- ... An-splurge