Western Mining intends to acquire 100% of Daliang Mining and Qinghai Lithium by more than RMB2 billion
2017-03-21 17:59:45 [Print]
According to announcement on Mar 17 from Western Mining, the company intended to acquire 100% stake of both Daliang Mining and Qinghai Lithium by share issuance and cash payment, respectively at dealing prices of about RMB10.60 billion and RMB11.87 billion. Meanwhile, the company will raise counterpart funding of no more than RMB11.23 billion for cash payment.
Daliang Mining is a modern mining enterprise with integration of mining and beneficiation. Huidong lead&zinc mine, where the company located, is rich in lead, zinc and other minerals. The company mainly deals with zinc concentrate, silver-contained zinc concentrate, lead concentrate and silver-contained lead concentrate with downstream consumers mainly from enterprises of zinc ore and lead ore smelting. Qinghai Lithium mainly processes, produces and sells lithium carbonate products and meanwhile explores comprehensive development and utilization of lithium, potassium, boron and magnesium salt of Qinghai Lake.
Daliang Mining is a modern mining enterprise with integration of mining and beneficiation. Huidong lead&zinc mine, where the company located, is rich in lead, zinc and other minerals. The company mainly deals with zinc concentrate, silver-contained zinc concentrate, lead concentrate and silver-contained lead concentrate with downstream consumers mainly from enterprises of zinc ore and lead ore smelting. Qinghai Lithium mainly processes, produces and sells lithium carbonate products and meanwhile explores comprehensive development and utilization of lithium, potassium, boron and magnesium salt of Qinghai Lake.
Zinc Conc. 50%min EXW North China
Unit:RMB/mt Zn
China zinc oxide producers' inventory statistics by province by month
Unit: mt
