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
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%.
. , 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%.