Xinjiang International Industry to acquire 80% stake in Yibao Mineral
2024-11-11 14:24:42 [Print]
On November 7, Xinjiang International Industry Co., Ltd. signed a Letter of Intent with Shanghai Hengshi Mining Investment Co., Ltd. to acquire an 80% equity interest in Xinjiang Yibao Mineral Resources Development Co., Ltd.
Yibao Mineral is engaged in the exploration and mining of copper and gold. The company now owns an exploration right covering an area of 2.68 square kilometers and two mining rights covering an area of approximately 2 square kilometers respectively for Halasu copper deposit and Yuleken Halasu copper deposit.
As of March 31, 2024, Halasu copper deposit had mineral resources (indicated and inferred) of 5.54 million tonnes, containing 34,890 tonnes of copper at 0.63% Cu, 609 kg of gold and 13.46 tonnes of silver, and Yuleken Halasu copper deposit had mineral resource (indicated and inferred) of 9.45 million tonnes, containing 66,570.65 tonnes of copper, 916.38 tonnes of molybdenum, 3,645.82kg of gold and 5,076.50kg of silver, at 0.70% Cu.
Yibao Mineral is engaged in the exploration and mining of copper and gold. The company now owns an exploration right covering an area of 2.68 square kilometers and two mining rights covering an area of approximately 2 square kilometers respectively for Halasu copper deposit and Yuleken Halasu copper deposit.
As of March 31, 2024, Halasu copper deposit had mineral resources (indicated and inferred) of 5.54 million tonnes, containing 34,890 tonnes of copper at 0.63% Cu, 609 kg of gold and 13.46 tonnes of silver, and Yuleken Halasu copper deposit had mineral resource (indicated and inferred) of 9.45 million tonnes, containing 66,570.65 tonnes of copper, 916.38 tonnes of molybdenum, 3,645.82kg of gold and 5,076.50kg of silver, at 0.70% Cu.
Copper Cathode 99.99%min Delivered China
Unit:RMB/mt
China refined copper producers' sales to production ratio statistics by province by month
Unit: %
