Western Mining Group's subsidiary company Saishitang Copper suspends production
2017-09-08 17:33:58 [Print]
According to the announcement released by Western Mining Group on the evening of September 6, to echo Chinese government call on protecting the major river-source region in West China, board members of its holding subsidiary company Qinghai Saishitang Copper Co., Ltd. (“Saishitang Copper”) decided to suspend production of Saishitang Copper.
Set up on April 27, 2000 and with a registration capital of RMB79.6535 million, Saishitang Copper is engaged in copper mining, smelting, beneficiation, process, trading, technical consultancy and transference, as well as providing water, heating and electricity services in mining areas.
Current shareholders of Saishitang Copper include: Western Mining Group’s fully-owned subsidiary company Hong Kong Kangsai Copper Investment Co., Ltd. which invested RMB40.6233 million and has a 51% interest in Saishitang Copper; Jiangyin Changjiang Investment Group Co., Ltd. which invested RMB22.6534 million and has a 28.44% interest; and Jiangsu Runhua Technology Investment Co., Ltd. which invested RMB16.3768 million and had a 20.56% interest.
By December 31, 2016, Saishitang Copper had total assets of RMB457.788 million, and in 2016 it realized a net profit of RMB4.4179 million.
Set up on April 27, 2000 and with a registration capital of RMB79.6535 million, Saishitang Copper is engaged in copper mining, smelting, beneficiation, process, trading, technical consultancy and transference, as well as providing water, heating and electricity services in mining areas.
Current shareholders of Saishitang Copper include: Western Mining Group’s fully-owned subsidiary company Hong Kong Kangsai Copper Investment Co., Ltd. which invested RMB40.6233 million and has a 51% interest in Saishitang Copper; Jiangyin Changjiang Investment Group Co., Ltd. which invested RMB22.6534 million and has a 28.44% interest; and Jiangsu Runhua Technology Investment Co., Ltd. which invested RMB16.3768 million and had a 20.56% interest.
By December 31, 2016, Saishitang Copper had total assets of RMB457.788 million, and in 2016 it realized a net profit of RMB4.4179 million.
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