Tianshan Aluminum to purchase not less than 49% equity of Indonesian bauxite company

Tianshan Aluminum announced that in order to actively promote the overseas development of the company and the strategy of access of upstream bauxite and industrial chain integrated development, expand the company's scale and enhance the company's core competitiveness, the company signed the Cooperation Intention Agreement with Indonesia's local mining holding company (hereinafter referred to as "the target company") and its actual controller on August 9, 2021. The company plans to directly or indirectly acquire not less than 49% equity of the target company and/or its three subordinate mining companies, and plans to cooperate in bauxite mining, supply and sales.

The target company holds 100% equity of the local three subordinate mining companies in Indonesia and holds three mining resource mining certificates issued by the Ministry of Energy and Mineral Resources of Indonesia, covering a total area of about 30,000 hectares. The ore in the mining area is gibbsite.

.Asian Metal CopyrightTianshan Aluminum announced that in order to actively promote the overseas development of the company and the strategy of access of upstream bauxite and industrial chain integrated development, expand the company's scale and enhance the company's core competitiveness, the company signed the Cooperation Intention Agreement with Indonesia's local mining holding company hereinafter referred to as "the target company" and its actual controller on August 9, 2021Asian Metal Copyright