vested
Zijin acquires another mine
Zijin Mining (2899) has acquired 84% of Anhui Jinsha Molybdenuma for 5.91 billion yuan (HK$6.41 billion).
Jinsha Molybdenum holds the exploration right of the Shapinggou molybdenum and polymetallic mine in Jinzhai County, Anhui Province, China.
The Shapinggou molybdenum mine is a world-class, super-large porphyry molybdenum and polymetallic deposit, yet to be developed.
It owns 2.46 million tonnes of retained molybdenum resources, among which, the resources under the exploration right are 2.34 million tonnes, grading at 0.143 percent on average, according to Zijin.
Meanwhile, the mining company plans to repurchase A shares through centralized price bidding for the employee stock ownership scheme or share incentive.
The total amount of funds for the proposed repurchase is between 250 and 500 million yuan at a price not exceeding 8.5 yuan per share.
Source: Bloomberg
https://www.thestandard.com.hk/section- ... other-mine