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    CMT to acquire Hunan Shizhuyuan for RMB5.2 billion

    2024-06-18 13:33:37   [Print]
    China Tungsten and Hightech Materials Co.Asian Metal Copyright The transaction would lead to a major asset restructuring.Asian Metal Copyright, Ltd.Asian Metal Copyright5 million tonnes per annum.Asian Metal Copyright (CMT) announced that it plans to acquire a 100% equity interest in Hunan Shizhuyuan Nonferrous Metals Co.Asian Metal Copyright, together held by Minmetals Tungsten Co.Asian Metal Copyright, Ltd.Asian Metal Copyright The company also plans to raise up to RMB1.Asian Metal Copyright, together held by Minmetals Tungsten Co.Asian Metal Copyright5 million tonnes per annum.Asian Metal Copyright, Ltd.Asian Metal Copyright5 million tonnes per annum.Asian Metal Copyright and Hunan Woxi Mining Investment Co.Asian Metal Copyright It owns the mining claim of Shizhuyuan tungsten-molybdenum-bismuth mine in Hunan, with a mining capacity of 3.Asian Metal Copyright, Ltd.Asian Metal CopyrightChina Tungsten and Hightech Materials Co.Asian Metal Copyright, through a private placement and cash payment, for a total consideration of around RMB5.Asian Metal Copyright2 billion USD716 million.Asian Metal Copyright2 billion (USD716 million).Asian Metal Copyright, Ltd.Asian Metal Copyright The company also plans to raise up to RMB1.Asian Metal Copyright, Ltd.Asian Metal Copyright8 billion (USD248 million) by in a share private placement to fund the acquisition.Asian Metal Copyright, Ltd.Asian Metal Copyright The transaction would lead to a major asset restructuring.

    Hunan Shizhuyuan is mainly engaged in the mining and dressing of polymetallic ore including tungsten, molybdenum, bismuth and fluorspar, the smelting of tungsten concentrate, and the research and development of bismuth-based new materials. It owns the mining claim of Shizhuyuan tungsten-molybdenum-bismuth mine in Hunan, with a mining capacity of 3.Asian Metal Copyright It owns the mining claim of Shizhuyuan tungsten-molybdenum-bismuth mine in Hunan, with a mining capacity of 3.Asian Metal Copyright5 million tonnes per annum.

    By acquiring Hunan Shizhuyuan, CMT expects to establish a complete tungsten industry chain consisting of mining, smelting, cemented carbide production and deep-processing, as it aims to integrate resource and promote industrial transformation and upgrading to better withstand market uncertainty.

    .Asian Metal Copyright, LtdAsian Metal Copyright
    Tungsten Ore WO3 55%min EXW China
    Unit:RMB/mt 65-basis
    Tungsten Ore WO3 55%min EXW China RMB/mt 65-basis
    China tungsten concentrate producers' inventory to production ratio statistics by province by month
    Unit: %
    China tungsten concentrate producers' inventory to production ratio statistics by province by month
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