Jinshi Resources to acquire 80% of equity in Ningguo Zhuangcun Mining
2019-12-06 17:15:38 [Print]
Jinshi Resources announced on December 5 that the company intends to acquire an 80% stake in Ningguo Zhuangcun Mining Co., Ltd. with RMB27.95 million (USD3.98 million). The company will also need to provide a non-interest-bearing loan of RMB76.05 million (USD10.82 million) to Ningguo Zhuangcun Mining for its debt repayment as of October 31, 2019.
Ningguo Zhuangcun Mining has mining rights in the Zhuangcun fluorite mine in Ningguo with a resource reserve of 1.0863 million tons and a remaining recoverable reserve of 649,000t. The production scale of the mine is 50,000t per year and the estimated mine life is 14.62 years with an average grade of 52.15%.
Ningguo Zhuangcun Mining has mining rights in the Zhuangcun fluorite mine in Ningguo with a resource reserve of 1.0863 million tons and a remaining recoverable reserve of 649,000t. The production scale of the mine is 50,000t per year and the estimated mine life is 14.62 years with an average grade of 52.15%.
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